But for someone like myself who plans to not "get out" for another 30-40 years short term booms and busts aren't of much concern other than potential buying opportunities like in early 2009.

My concern is that the tenant will constantly need something "looked" at simply because I am so close by.

However, I am also concerned about the possibility of a bank not renewing a loan and not being able to secure financing.

I read that a potential buyers will probably be a good mentor to wholesale beginners...is it true?

Bill Im liking what you are saying so far..and their ability to control my sales is what concerns me.

That brings me to another concern, though, if I don't roll that money into another house, I will take an unwanted, possibley unecessary, tax hit....

I thought college towns would be good since students need affordable housing, however I want to ask your experience with college towns.My concern: property will be in the summer, since most kids would want to go home and not pay for the months they are absent.Thanks!

That leads me to ask, if you were buying just for cash flow and you weren't concerned with future appreciation, does your purchase price compared to other sold comps matter so much?

I bought a 3br/3 bath house 2200sq ft in Altamonte Springs FL this Nov. purchased for 105k using hard money, put about 25k into it and got it under contract in Jan for 173k- all was well, passed inspection with no notable concerns, headed toward a late Feb closing.

. :)After a few years working under those conditions you can think about growing.I realize you want to market the projects to your investors with big numbers, that is an absolute beginner mistake.