I am targeting $650 rent but I have not completed my rent comps.

And critical one that should be considered by all at any experience level.I believe in becoming a neighborhood expert prior to any purchase consideration.My mentors and experience have taught me to conduct thorough research and know more about the property, neighborhood, and target market prior to any purchase consideration.

Yes indeed things getting overwhelming at times trying to get through all the information, real estate has a lot to offer you just need to figure out what works best for you.Find your target keeping aiming at it and you will get it, best of luck in your REI.

The seller or real estate agent may know something you are overlooking.One this is for sure, if you do not know more about the properties, neighborhood, and target market than anyone (including the seller); and be accurate in predicting the realistic future that is not based upon any blue sky assumptions, this could become much more of a challenge than a reward.Best of luck.

This business plan allowed a rent increase of more than double the rent charged by the former owner.I had a marketing plan that understood the lifestyle and desires of the target market.

I also think it may be easier to maintain.

To Bill's point, it IS a people business and that's why one of the most solid approaches used by most of the larger investors is direct mail to a well-defined set of target audiences - done CONSISTENTLY over time.Don't make the rookie mistake of blowing a bunch of money on 1 or 2 mailings and then bailing out (see this ALL the time).

In the words of Dan Kennedy, if you don't have money you have shoe leather, lol going door to door with your letters won't cost you money but it is very time intensive, if you value your time then you will have to find another way to market to your target area without spending the $500.

Post signs in you target area that say:3bed 1/2 bath home for sale.

There were internal memos from McDonald's over the previous decade stating that they knew their coffee was caused damage at the temperature served but it was easier to pay these cases off when they occured than make a change.