As for sub-diving through committee of adjustment. what your are mentioning is sell a lot, subject to committee of adjustment approval to subdivide, and then, when a buyer is found, apply with the buyer's name on the division paperwork?

I too an a newbie ramping up my education before diving in.

Start doing a deep dive into all the great information here on BP.

They tell your doctor nothing about what might be right or wrong with you - but they do hell him/her if they ought to look more closely.The example you gave above ($1700/mo on a $150k property) represents $20,400 of annual gross income on a $150k investment.To tell whether the property is a good investment, you need to dig deeper in to the actual (or estimated) expenses, which might look like the following (these numbers are made up, plug in your own):A property currently operating at an 8-cap, with potential to increase rents and/or decrease expenses, would be a strong buy in my market, barring any material defects or looming capex.Hope that helps!

I'm a licensed Realtor out of Atlanta, GA looking to dive into the world of real estate investing. 

I'm thinking about 07 now and should the market dive like it did then I'd be bummed I didn't get out while ahead and shift my focus to cash flow. 

I am an Orange County resident and I am diving head first in to the Real Estate market.

Its kind of scary to dive into something as risky as this aspect of real estate.Ive been renovating properties for someone else to become wealthy.

I think that as you dig deeper into companies a lot of potential deals will weed themselves out.

Been looking at BP for a while now and finally have the ability take more time to dive deeper into it !