It's just another business that works with bigger ticket items.

What % or amount of cash should I have on hand to cover vacancies or big ticket repair items.Is there a good rule of thumb to determine if I am under leveraged or over leverages?

Without someone local, you have no place but to buy a short notice ticket and fly there.If this is in driving distance, its much easier, but the same advice applies.If you really want a very hands off approach, then find someone who sells turnkey investments in the area.

While you at his site, ask questions about the pricing of that job, how long it took, if he was on schedule or not, if he has subs he uses, what their hourly rates are, etc.3) Call vendors/sub-contractors for pricing - cabinets, finish material, cost per sq. on a roof, new HVAC system, new electrical system, hourly rates.....Your goal in doing this is to get a good sense of the cost for the big ticket items and how much contractors charge as an hourly rate.

If you haven't seen them in the flesh, I'd buy a plane ticket and have a look.

Similar for all the other big ticket items.Buying an OO multiplex helps you with getting a better rate on the loan and a lower down payment.

I live in Yakima, Wa and pay around 675 for rent, where i live you can get a decent house for around 100,000 grand ( Starter home ) Im just finding out about this tax credit, and wondering if this could almost be my ticket to get a small house and own my house at the age of 22.

I am going to go ahead and get my wallet out and purchase tickets to three or four.

For ProTitleUSA, would the current owner report be the ticket?

Just looking at the numbers, I would agree with @Jonathan Smith that this one might be tricky with numbers unless you are sure of all the big ticket items, maintenance costs, and have a large amount of reserve, or you are putting a large chunk into the deal for a down payment.