It will take a little time after purchase to get it ready and find a tenant, but then the work is minimal ... providing you have a good structure and mechanics, and a good tenant.We have purchased rentals that need a substantial amount of work as well, that we could do ourselves to keep the costs down.

I wanted to know what would be the best approach to minimize the tax implications on a wholesale deal.

To minimize the amount of time she invests making arrangements and then showing a unit to individual potential tenants, when she has a vacancy, she has *one* open house (posts date/time on Craigslist) and is done with it.

It's totally false that you need 2 to 3 credit cards and lots of debt and pay it down each month, I've found a way to keep it minimal and still have very high credit scores.

@Joe KatoThe goal of being a landlord is to get the rent paid on time every month and to minimize maintenance and capital expenditure (capex) fixing the units back up.

I agree - $250k is very minimal for retirement.

Hello everyone.I stumbled upon BiggerPockets a couple weeks ago while searching for sites with information on multi-family purchases, and have been reading forums and listening to podcasts since, now finally (better late than never) introducing myself.I guess I have been involved with real estate (minimally) the last four years when purchasing my own home in Bakersfield, but then chose to rent it out and move to Ventura in order to be closer to the beach.

If you have a property cash flowing ~$400 with minimal rehab, you have a very marketable property to a buy/hold investor, the fact that it is fully leased would make it an even easier sell...

- he's done minimal work right now.

It also helps save money and in your first deal or so, that is often very important and necessary.Now, as an investor becomes seasoned, part of that is the ability to build systems and not do the manual labor (or at least minimize it to very small functions).