This one will be a buy and hold in Memphis, TN.Numbers look like this:Purchase price $122kConventional 20% down and financing 80%MAIN HOME: 4 Bedrooms, 3 Full Baths, Living Rm, Dining Rm, Hardwood Floors (Currently rented for $ 1,300 per month - Current tenant for nearly 2 years)Updated Electrical WiringNew Heat and Air ConditioningNew Exterior Paint New Interior Paint Refinished Hardwood Floors Remodeled Master Bathroom (12" Tile)New flooring in kitchen and diningNew Light Fixtures throughoutNew Doorknobs throughoutNew Blinds throughout Large Updated KitchenAPARTMENT 1: 2 Bedrooms, 1 Bath, Full Eat-in Kitchen, Large Living Room (Currently Rented at discount for $ 725 per month to same tenant in 1 Bed Apt (Typically rents $ 785/ mo).

If you notice a property that looks vacant (unkept lawn, newspapers in driveway, yellow or white papers stuck to either windows or doors) jot down the address and look up the property in the county tax records and find out who the owners(s) is.

IMHO, if there is such a thing, I'd say an advisor would be more appropriate in a corporate setting, General Electric has a realestate division and there may be an advisor down the hall, last door on the left (has the cornor office with a view).

Most of the fully empty places are essentially uninhabitable (aka no way I'm getting the girlfriend to live there) due to missing windows/doors, leaky roofs, vermin, etc.

Its cash out the door, but its really just a transfer from one asset (your bank account) to another (your equity in the property).

Home has not been remodeled since it was built with the exception of one bathroom.

This was especially important to us because this house happens to be two doors down from our residence and we didn't want to spoil neighborly relations.

.- i am at 8 and i can get just two more before i max out and can't get mortgage- 80k will get me a dumpy 1 triplex or ok 1 duplex that rent out for ~500 per door- 80k will be around 2 houses for downpayment and updates before it runs out- even in the summer i am having a hard time renting the latest one at $1125 (after a month without applications), so i am sure that is affecting my thinking as well.thanks for the suggestions.

Thanks, ive bought and borrowed many books, and still dont feel like i know enough to get my foot in the door.

However, there might be problem with the roof and major termite issue underneath the bathroom, since the wall in the shower was opened and the tenant just put something like a sheetrock there, it wasn't fixed properly, so water can go down and cause major damage to the subfloor or the foundation, which would greatly increase the rehab cost.The tenants have been living there for over 23 years, they don't want to move, (a couple in the 50s with the dad in his 80s) so they don't let me in to do the inspection.