One of my friends did that.

Thanks BP friends!

Is the boy friend or the tenant in a protected class?

If you are worth say 300k and taking a big chance with a good amount of money down then stay away from the low income areas and pricing. 6 to 7 years ago my friends were buying properties for 55k cash in Roswell in A location and putting 10k in to make rent ready for 900 a month rent.

Hey folks,I live in Seattle and therefore am not looking to buy any rental real estate locally. For that reason, I've mostly been doing my research in out-of-state areas like Pittsburgh or The Triangle in North Caroli...

My wife’s best friend owns a couple weeks in Kauai and talks about how awesome it is.

Also, that "mentor" will probably be more like a good friend than anything.Think of it in terms of dating.

If anyone near the Chicago, Il area can direct me or send me some banks that are RE investor friendly and supports FHA mortgages that would be great.

So call a few times (not too many) be super friendly (remember, this is small town lending) and stay patient!

As of now I'm working with my junior realtor (close friend & new to the industry) to source a property where the rent income will be able to cover debt service and operating expenses all while living in one of the units (therefore, removing the rental income of that unit from the equation).