How much do you want to spend a month?

3: At what point would I need to contact an attorney and/or an accountant for my investments, I want to cover myself but also not spend excess money?

If I had to spend $75K on a $200K house, my offer would be...

Should I be spending all this money on buying a second property to maximize my cash flow?

This arrangement really works well for us and I don't have to spend my time trying to hire and manage multiple people. 

@Barshay Graves If you only plan to spend $3,000. for repairs, I'd run. 

I also want to spend more time in real estate and go in the field as primary career.

Wine World Estates  number one label was Beringer and then another 30 or so labels.. right around latter part of 07 when I was spending the winter in La quinta he has an estate there.. we were at dinner one night and I said hey how is this down turn in the economy going to affect wine sales.. he said no worries... well that was not true.. folks just kept buyer cheaper wine.. so that about 2010 the top seller was 2 buck chuck.So in my mind folks that rent in the C B class they may drink wine but I don't thing they buy it and store it.. they buy and drink... so in my mind waste of money. 

Personally, I've been spending time looking for a mentor and getting ready for my first deal.

Those tenants face hard choices daily about where to spend $1.