Here is my approach to finding an area:I search by zip code and filter for zip codes where the population grew and the unemployment rate declined in the past 5 years.For the left-over zip codes, I look for low price-to-rent ratios.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If the landlord pays the utilities, you have to include that too.However, as a house hack, below is the equation I would use:House Payment = Mortgage payment plus expenses less Rent (you receive from one unit)If your house payment for this property is LESS than what it would be if you rent a house in the area, then by all means go for the deal.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcast If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I think we are capable of living below our means for however long it takes to pay off the debt.

We all understand that the cash flow will be lower up front, but we have ambitious plans for the next 10-15 Years.

To simply buy an above average cap rate means you have to buy an asset at below market value. 

I will achieve this by purchasing below market properties, rahab properties and sell for profit or rent properties for income.

I will achieve this by purchasing below market properties, rahab properties and sell for profit or rent properties for income.

Also, the information I’ve learned from this community has helped me buy an amazing house for my wife and I in Florida, well below market price.