This is another source of income that I have been studying for the last 8 weeks.

I've been studying this subject a lot lately. 

You can learn a lot on forums but why not just get it all in one sitting. study your state laws, landlord/tenant and more.

They'll use a statistic from a study to fit a negative story one day, and then use the same study to fit a positive story the next day.

I'm studying in California, and it seems as though it is OK to receive or pay fees as long as everything is disclosed (especially if you're an agent), and as long as the fees you pay to someone for marketing or whatever isn't charged to the buyer or seller.

However, he also studied thoroughly the great depression and it is that knowledge that presumably helped him to make the right decision to avoid the great depression 2.0.

If you are going to prosper in this business you really need to know your own local codes and statutes.Most states and municipalities have them online for you to study.

Correct, but your $5000 house that rents for $500 is still a $5000 house, if you aquired 600 of these, you'd make your goal. and actually, $500 net would mean like a $800 rental minimum thats just $300/mo to cover expenses/taxes which are high in detroit/and insurance (probablly wouldnt even have) I've studied the Detroit market a ton, and there are $5000 properties that rent for $800.

TimHaha ok, I hate making long posts but here goes...I'm in the Philadelphia area and I'd like to make a career out of real estate investing (studying finance at Penn State currently).

If you and your wife will spend the next five months studying everything on BP when you return you will know enough to hit the ground running!