Another piece of advice I would throw out there if you are looking to get into foreclosure auctions, learn to look at county records for liens, and other encumbrances that can affect a title.Even if you have the cash, which would be quite an accomplishment itself for someone of your age, if you go into these somewhat blind you'll get burned.

@Sean Apple Welcome to BP and congrats on looking for better ways to save and grow your extra income.

My agent and I are going out this afternoon for the 3rd time, just being patient and I want my first one to have a little extra padding for mistakes which I'm sure will occur.At what point in time do you recommend establishing a LLC?

(I would advise if the answer is yes to make sure no viscous breeds are allowed and also get an extra security deposit and possibly extra monthly rent.)Also, something that helped us that you might want to consider is for your credit check is that the score matters, but we look deeper than the score if there are things that come up (and in New Brit there are usually things that come up).If tenants are skipping out on "modern life essentials" like utility bills, cell phone bills, car payments that is a huge red flag.However, if it is a result of medical bills or student loans (or possibly a foreclosure during the crash) you may want to look past some of those.

An extra $100 a month doesnt sound like a good deal to me. there must be more to this. 

Raising rents $100/mo on a 10% cap property will get you an extra $12K in value/sale price (assuming nothing else changes) while doing the same to a 5% cap property will add $24K to the value.

Some do call before they get there but I am rarely burned by this. 

She owned it for 20 Yrs and owe $140k and she wouldn't mind a extra 10-20k if she sell. 

You could just adjust your % to 60 instead of 75% to account for all those extra costs.

The extra $100+- a month doesnt seem worth the hassle.