Inspect the property to make sure none of the tenants are operating a business, daycare, beauty shop, auto repair, MARIJUANA GROWING or others.Make sure that you are credited at closing for the amount of ALL SECURITY DEPOSITS.

Will your lot size accommodate a larger dwelling and will the neighborhood surrounding your home support the higher value that you expend?

I run an ad in the local paper the says; "XX neighborhood, X bedrooms, X baths, owner will finance with $2500 down payment".

(I know you didn't ask but thought it might be helpful anyway.)TTYLJim Watkinswww.dfwmentor.comThe sales in the neighborhood were between $130-$140 so I was basing that on the most conservative of $130,000.

Secretary Cuomo said, "By making it more attractive for teachers to live and work in school districts where they're needed most, we can build better futures for children and neighborhoods in need.

But, it was in a neighborhood of rough places with a smattering of nice houses.

The neighborhood will probably support about $115-$120K once I do some landscaping, paint and etc.

Tuesday - Spend day networking with realtors, bankers, credit unions, mortgage companies and all others you come into contact with (spend about 2 to 3 hours)Wednesday - Go through newspaper for homes for rent, FSBO, Homes For Sale, Legal paper listings and searching neighborhoods and drive by.

I have also owned many businesses:johnmichael: Laundry Mats, Retail Stores, Flea Markets, Convince Stores, Arcades, Rack Merchandising, Mystery ,Mystery shopping Company, Auction Centers, Answering Services, Vending, And the list goes on.johnmichael: Now enough pumping sunshine up my own skirt LOLjohnmichael: Do understand we will be going over the basics and then step by step jump into the more advanced and creative strategies of locating Real Estatejohnmichael: I do want to cover basic investing strategy for new investors; johnmichael: STEP 1 - Buy a piece of real estate under the most favorable terms and conditions possible with as much leverage (OPM--other people's money) as you can.johnmichael: The art of this game is finding moneyjohnmichael: Money is everywhere folksjohnmichael: How many Dr's in your townsDan_Auito: We are gaining strength in that dept as more and more lenders are finding our home herejohnmichael: The are of OPM is just asking for it!

Reprinted with permissionWhen choosing an area where to buy a rental property, there are several things to consider including, distance from your home, supply of potential tenants, average rents you can collect and the ability of tenants in that area to pay you.I would choose property where people want to live, close to shops, parks and decent schools, and in a well-kept neighborhood.