So, there's still a manager involved, as well as the investor who master leases the property from you.Why not buy into a REIT or apartment company if you want that level of hands off investment?

It does vary depending on what state you are in.I would put as little money down as possible because whatever money you put down on the home has an oppurtunity cost equal to your interest rate less tax deductions.Lastly keep an eye on the market and make sure you don't buy in the middle of a property downturn, try to buy when the market hits rock bottom.Good luck

Also they will provide all areas of advertising that do cost money, like signs, flyers, listed on most popular websites, realtor tours, etc.I have also found that potential buyers responding to FSBO ads are looking for "a deal" and think with no agent involved that is what they should get.

What have you been involved in up to now, and what are some of your real estate investment goals?

If I were to buy anything in this market that I have my eye on under $100k and repair it for 15-20k in 1 months time, and sell it in about 2 more months I should be able to make around 50k on something.

I have good income, about 250k/year, with plans to double that in the next year. .Why would someone with good income want to get involved in Real Estatein today's economy ???

You need to KNOW what work is needed, what is typically involved, and you need to track it fairly closely (you don't need to count screws, but you better have a good idea of how much paint is needed per SF, and perform at least some rough job costing!).

Thanks for getting involved here on BiggerPockets.

Was previously a licensed mortgage broker, although my license has since expired, and I'm no longer involved with mortgages.

In a nutshell the premise of the whole book is that TIME is the real treasure, that work is a means to an end, and that your career "what you do" isn't as important as "who you are".He correctly points out that most people don't actually want to be millionaires, but rather they want what they think only a million dollars can provide.Way too many "gurus" make a pretty nice living convincing people they've got to make millions and while people have $ signs in their eyes and are looking at the yachts, and sports cars, and big houses in their inspired dreams, they miss the fact that the gurus are taking them for the few thousand bucks they've got.