As the population continues to grow and more high income earners move here to work at Toyota, Boom, etc. the average purchase price will continue to rise making it even more difficult for first time buyers to break into the market.

Here are the numbers, so you can see what I mean.The numbers are the following: 359,900.00 sales price (purchased Dec 2015) 89,975.00 down payment (25%) 10,000.00 closing cost (estimate - I don’t remember the exact figure) 7,000.00 required rehab (estimate - I don’t remember the exact figure) 106,975.00 Cash invested 3,900.00 Rental Income (actual figures) 150.00 Parking Income (actual figures) 4,050.00 Total Inflows (400.00) Utilities (250.00) repair budget (not an actual outflow, yet) (2,200.00) Mortgage (Includes insurance, taxes, and P&I) 1,200.00 Operating Inflows 14,400.00 Yearly inflow 13.46% ROI If I were to use the 50% rule I would have discarded the property. 

I would network with contractors out in your area, or you can find people online (VAs).

It takes alot to build up enough of a presence online via a DB site, so it works great to market to guests who have already stayed.

I've recently came across this technique of assuming the sellers mortgage when purchasing the house.

For $150,000, this could be $3,000 to $7,500.Investing in a Rental Property: Costs and ExpensesDown Payment and Closing Costs:Down Payment: Assuming you buy a $300,000 rental property, you need a 20% down payment ($60,000).Closing Costs: Typically 2% to 5% of the purchase price.

Your friend should have either received a statement monthly or had access to one online.

Non realtor (me) drawing up purchase contract with seller financing land deal, owner is listed as "ABC Inc Profit Sharing Plan" in the county CAD.

Purchase price: $19,000 Sale price: $20,000 This is one of two lots I got under contract in Port Charlotte, FL from the same seller.Sold it to a builder for $20k.

Anyone who works remote or online or does low skill manual labor.