If you can I would recommend planning a trip to visit, we were pleasantly surprised with the KC and all it had to offer.

However, if the tenant pays in time and follows the rules you are probably better off keeping them as you’ll avoid the deferred maintenance/turn over costs right now.

In time, you will develop an eye for properties that meet your investing criteria, and you’ll be ready to purchase your first property.#4 Don’t Postpone Investing by Looking for the Perfect DealReal estate investors are tempted to look for the perfect deal, especially when first starting to buy investment properties.

Another thing I can add, make sure your check out time and check in time leaves enough time. 

I have received 2 very pleasant home owners telling me they are interested in selling possibly.

I want to sign the lease and take the sec dep. first and last months rent....but I am not sure if that is customary to do given the gap in time before the tenant takes possession of the property.

In the case of the big banks, i could see how they might not get the POC filed in time, which screws over the borrower since they can't include that debt in the plan.In your case, you might have to wait it out.

I understand that New York is a "lawyer closing state" and that the lawyers are intimately involved in every step of the process and that they generate an abstract of title before the closing, which apparently goes back to the time of the French-Indian Wars.The lawyer we retained to handle the sale will charge $750 for the abstract search and claims it will take 6 weeks to complete.

I don't know what the rental rates in that area are like, but it works over in Pleasant Grove.

But the deals are much harder to find (because they are easier to finance thus more people after them)So don't use what's going on in any point in time as a reason to fail.