I operate a weekly/monthly rental situation for business travelers, my average profit is 1000-1200/week.

They are currently renting the property for 1100, in an area that could easily get 1300-1400.

That said, we like to always be in a position where we can easily, and relatively cheaply, refinance on short notice.

This is pretty amazing information to get your hands on so easily.

I can get a seller to court to sell or suffer just as easily, maybe easier, with a sale contract as an option agreement.

I want to start small with a 10K down payment on something so I'll need a market place that's affordable; either within an hour of NYC or somewhere else in the country that I can can travel to for investment purposes.

And yes depreciation is recaptured on the sell of the property, easily avoided by doing a 1031 exchange.

I've bought several houses in downtown NN and Norfolk for 10k to 25k range and they rent for 700-900/mo pretty easily and some require minimal repair.

I called and left a nasty smart@ss message asking her if she had a time machine and traveled back a day after she bought the money order and then mailed it.

Check out the reviews that travellers have posted after they have stayed at Outer Bank properties, and you'll find out what their criteria are.