That area is going to be very difficult to maintain stable tenants.

At the lower end, I have used RTA (ready to assemble), for the mid level we used off the shelf and already-built maple cabinets from the big box stores, all the way up to handcrafted cabinets from a local craftsman at the executive rental level. 

I'm 25, have a stable W-2 job, and my market in SE Michigan is a booming seller's market, too.

One that I recently looked at, would need the following which I believe will help get more stable tenants and increase rent.- Remove the dead tree, prune some branches that is touching the roof etc..- Patch up the roads and parking lot.- Security Cameras (I am not sure about this, though).- Put up a play area for children (I need to check the insurance).- There are some capex items like replace some old appliances and ACs.Venu

Time went by though, we recovered, our careers (both full-time) are now stable and we have about 70,000$ waiting to be invested (this is in addition to emergency fund, retirement through employers, some college money, etc). 

This was the fastest sales rate since February 2007.The U.S. housing market faces something of a split personality: A stable economy has intensified demand from would-be buyers, but the number of properties listed for sale has been steadily fading.

A stable place to park your cash?

. :)Seriously though, we are a big enough city to be stable.

@Duane HundleyUnder the assumption you think your job is stable, many 401K loans are due upon leaving the company, then you have to look at the difference to your 401K over time by taking the loan.

Of your 130k, set 50k aside to bolster your short term savings and use 70k to look into a stable market in the midwest where you could use that 70k as a down payments on 3 100ish k houses that cashflow $200-300 each.This way you've doubled your monthly rental income, taken the burden of being a landlord off yourself (with a management firm in your new rentals town), and you have a decent amount sitting around for emergencies or to use in your area if the market crashes.