It is a common mistake for new investors to not understand this concept of income investment properties.Also sit down and learn your state landlord tenant laws.

Yes, there is some time you can be sitting around alone, but it's also a great time to really make sure things are in good shape.

The AZREIA meetings (2nd Tuesday of the month) and subgroup meetings (4th Tuesday of the month) are a pretty good start so far as meeting people, but they are more sit-and-listen meetings with 15-30 minutes of structured networking.I think getting 3-6 people together is a good start.

If it were not owner occupied, I recall the rate would have been closer to 4.5 - 5%. 

If they sold, was it recently and how long did they sit on the market before selling?

New Orleans is a tough market to find deals in in the more/most desirable neighborhoods due to limited availability since after Katrina, most of them were scooped up in the last few years.My advice to you would be to offer the highest you feel comfortable with offering for your investment model and sit back.

Ryan S. it is only the last seven years that the fed has held prime at or near 0%, which is why we have these low rates.

There lies the hardship.If I was a landlord in Seattle I would ensure that I had a documented screening criteria, and if I had any concerns or I wanted to incorporate as much of my own "personal" criteria I would spend a couple hundred buck and sit down with an attorney.The only real winners I see here are property management companies.

They sent us before and after pictures prior to payment, so no need to baby sit them.  

Although, I know houses that were bought at 65-70% ARV, were nicely remodeled and now they just sit on market for months because of a bad location.