Contractor wanted to rent it, owner (we are managing this, not owning it) just didn't have funds to renovate it so it was a perfect fit. 

I was stationed right around the corner from Clarksville well I was serving so it was a perfect fit for me to start my portfolio.

If your why is because you just love real estate, perfectly fine as well.3) Surround yourself by life minded individuals -You are the average of the five people you spend the most time with.

(My friends are hard money lenders and real estate agents.) the house is selling for $69,000, is a 2 Bed, 2 Bath in almost perfect condition in a 55+ community.

Maybe review the investment choices in your 401k plan as carefully as you would stock purchases from your non-retirement $$.

Then after a month of looking I found the perfect new job for me.

@Javaras Thomas Sounds like a perfect fit for a DSCR (debt service coverage ratio) loan.

Perfect recipe for turning these two friends into enemies.

@Sher J.We're moderately debt-averse, which we know is controversial but it's also a personal choice.

At that price point, closing costs are roughly 20% of the purchase price, which makes the choice of financing or buying cash an easy one.The good news is, my monthly revenue will go up almost $200, but my COC % drops to 17%... still not bad.I closed on the property last week and I'm already looking for the next investment!