Others will work with renters who are looking to buy their first property as an investment property.Regarding your questions, there are investors making money in this market.

It's not logical to lose money and now would be a perfect time to get engaged in your business.

Just by looking at these numbers & the fact that you have a ton of money you owe to pay down a HELOC.

Money needs to be set aside for that maintenance.

It may be a little late in your case, but since the economy is tightening, others reading this might benefit by not have their money missing when they really need it.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best

Maybe I can make more money doing that then REI :)

Another option that I've seen in the local market is purchasing a heavily distressed or big rehab project with a local hard money lender that will allow a smaller downpayment due to the amount of equity in the deal on the back end.

If I was in financial distress and losing my home through foreclosure or tax delinquency, I would not want to deal with an enthusiastic newcomer trying to make money on my misfortune.

Yes you can make money in Kensington and Strawberry Mansion but does  that the type of asset and renter align with your goals?