I recently visited a flip in progress in Corona that my friend, Jose Antonio Sancez, Prudential Realty, is managing.

I am not saying do it or do not do it, but you have fewer options to buy right now so evaluate it carefully.

I recommend you explore areas within 30 min drive from your locale and explore if you can make positive csh-flow purchases in your area.Use redfin.com and homeseekers.com to see what is available in the desirable zipcodes.Analysis are simple: rule of the thumb is at GRM (Gross Rent Multiplier) this is a fancy term for a just a quick simplistic evaluation were property price is divided by gross yearly rent.Usually, 6-7 will produce positive cash-flow, 8-9 break-even, 10 or more is negative cash flow.There are other calculations, but this one is quick and dirty.I can tell you that you will find out that property located in not s good areas (mine are in South LA) will be more profitable, but you have to explore your market ..

I saw a lot of guys crash and burn flipping but have been around long term rentals growing up and appreciate the tax benefits and advantages of long term holding(1031exchanges) so I have been evaluating other area like notes, large multifamily, out of state.

Mid-west, seems best suited for my funds and what I want to take on to start.I'm only in year two of REI and started with nothing so it's been a work in progress.

Lend money to investors for repairs charge them interested and ask to see the progress of their work.

Thought I'd show the progress of the same area over the course of the project.House Hack #1: Turn 1000 sqf basement into modern 2/1 basement rental.Total Time = 12 months (I did a lot of the work and so this is the culmination of a lot of evenings and weekends.)Total Cost = 35KDay 0Day 75Day 90Day 150Day 175Day 225Day 350

Definitely, keep reading BP for knowledge and work on qualifying.Do keep us posted on your progress, this is the place to find investing mentors that can answer your questions along the way and even point you to certain people in your area.Anita

It might be fun if you started a thread for each of the properties so we can follow your progress.

My goal is to own enough that the cash flow allows us to retire, when he is done with the military.Pros-*Can use primary residents to become rentals so less money down*Get to explore tons of different towns to evaluate investment possibilities*Can use the VA loan for multiple properties as long as you don't exceed the maximum VA allowance*Understand Tenant needs and cater to them*Maximize Long Term Rental by renting to fellow military*Can save management fees by handling it yourself through the connections you made while you live in the town.Con-*Military can be a demanding schedule.