I'm starting small now with properties under 80k that I can find in reasonable locations in Illinois for example, Dwight, IL, Ottawa, Morris, areas in Central IL where area is cheap so I can generate a nice stable income.

Would like to buy more in certain areas mostly 21223, 21230 and 21218 near Morgan State.Also, Looking for multi units 2-4 in any area of the city that is stable.

Here is the property details:Duplex - 2bed/1bath eachEach apartment can rent for ~$1100 as it standsReal Estate taxes: $3100 per year Owner pays water and sewer - which averages to about $100 per monthPrice of the Property is $272K.In a B/B+ area, stable renters and vacancy rate should not be too much of an issue.Currently I pay $800 in rent in a different area.

@William Allen1601 E.

He went as far as asking what I did with the money I received after my moms death a year prior to me appling for the loan and he e-mail a friend of mine that I had loaned money to years ago and wanted to know what he did with that money.

If you're still free and willing to answer a few questions or if you would want to call me, I can private message you my phone number or e-mail.

Every market is different; some are generally stable and have lower price to rent ratios (eg the midwest) and others are the opposite (California, New York).

The lender will not give you credit for your rental amounts since you have never been a landlord before (need 2 years history on schedule E), but since you qualify for the payments with your own money, it shouldn't be an issue.

If you pick quality, stable tenants (normal life/move history, steady long term employment), the chance of them breaking a year lease is slim.  

@Bill E. speaking strictly in terms of cash flow I would say that you could find a place to house hack in that area with better numbers.