Unfortunately, some people present REI as easy (TV) but forget to mention to newbie that it can also be costly. 

I'm interested in investing in Kansas City but I haven't ruled out Cleveland.

It's also easy to get anywhere from New West so it would probably be easy to rent.I don't know where you will still find cash flowing land but I've only been looking into condos and townhouses lately. 

Hi @Randy Jones,I think for your first deal, keep it to one property to make it easy on yourself and limit your risk of making mistakes and getting overwhelmed. 

Gross rent per month is usually the only figure that's calculated as a percentage of purchase price (to firstly see if it meets your investing criteria eg. 1% or 2% "rules"), whereas all expenses are then (usually) worked out as a percentage of rent - not purchase price (eg. the "50% rule")!

That's the type of real estate investing I have decided to pursue, I understand there are others and that I should not rule anything out but one thing I have learned in my career is, if you focus on one particular thing, you become and expert at it. p.s. sorry in advance if my introduction is wordy.

On another side, you may find it worth it to let in a dog to ensure you get that golden tenant that every landlord dreams of (you know the ones that pay on time, are easy to work with and take care of the property).

Can be found on property radar and possibly list source..As for the other list, its quite easy to obtain.

As a general rule you should use an S-Corp for everyday business (flips) because of the tax advantage of the salary dividend split.  

When it comes to refinancing, do the same rules apply to qualify as far as providing tax documentation and pay stubs ?