Will this benefit me in getting a approved easier or will the bank not whether or not there is tenants already in place?

Find a realtor that specializes in rentals/shortsales/insider deals. 2 Target aggressive rental market.. buy 3 properties @ 150k apiece aim for 8-10% cap. 3.

Did I make a big mistake picking that as my target market?

What would be easier to execute and most cost effective?

I also look at it as a retirement supplement.Exit strategy is also a biggy...so much easier to sell a SFH.I love seeing a family move a TON of belongings into the house...No way they are in a hurry to move all that stuff anytime soon.I have not ruled out duplexes...still doing some research into the idea.

I realize retirement is a long way off for you, but they say it's easier to get there if you know where you want to go, so start by forming a business plan, short-term, long-term, maybe develop goals by age 30, 50, etc.

Could put a carefully selected short-term renter in there for 6 mths to cover overhead, then do your repairs in the winter and list it next spring, targeting a signed contract at the 12-mth mark.Of course, you can try to sell it for cash to a hedge fund after you repair it.

In general though I agree with Aaron, as I think the first couple investments are much easier to manage (and you will learn more) if you are close to the properties.

Sure does make it a lot easier to come up with reserves...

That older wood trim (pine, oak, etc) requires little to no maintenance.I've seen that trim in houses that are 60 years old and while the houses may have some significant issues, the trim still looks surprisingly good.My 2 cents would be to get another quote on the paint job without the doors or trim and see if the difference helps make your decision much easier.