Strong preference for properties that are close to the light rail expansion projects that are currently being finalized in Houston.Hopefully the properties are cash flow positive, but I am willing to go underwater since I am expecting at least 10% annual appreciation over 5 years.Close in properties are very difficult to find (and lock).

What's the cash reserve position?

I didn't like the house as a place for me but I thought I could rent it and have a positive cash flow.

Thanks for your time ...landlording is not something I'm enjoying but I was in a position where I had no choice.

Being an electrical engineer by profession I will look forward to positively contribute to the forum to the best of my abilites.

It sounds like between that and reading here in the forum would be sufficient.....I still have some time to learn, because prices havent fallen enough here in Ca to make positive cash flow possible..

It really is best to positively seal them off.

Contractors (such as they are) are just CHEAP in some areas.Got a friend that just bought a 3 flat for next to nothing in Indiana, and another investor that just got hold of a $1.6MM multi-family property (valued at $1.6)-- 100% owner financed and the positive cash-flow is a little over $9K per month.Another guy is buying all over the place- not meth labs, either- for $5,500 ; $8,000 and getting crazy prices- rehabbing them for $3,000 to $15,000 and getting $30K and up.

Your credit, you cash position, your handyman skills or licensed (some people are licensed contractor's) will also make a difference.Good luck and keep posting.John Corey

In business, you MUST have a positive cash flow or you're out of business.