You can also be in the spec biz and buy a property (land for instance) which produces no cash flow, thus a loss each year for ten years and then sell for a profit then.

There's always someone that will try and make money screwing people, thankfully they are in the minority.Without doubt, there are some horrendous neighborhoods in Youngstown, as many of our cities are also plagued with, but the surrounding areas, Austintown, Boardman, Poland and Canfield, to name only four, are now producing some very attractive deals.

I am a producer and DJ, what is your focus in the industry?

Staying in your business or at home most of the time produces little results.5.

And if they drop another 20-30% it will create a reverse bubble on housing that will produce some excellent cash flow rentals and very low mortgage payments.

In fact my written policies and procedures show down payment as the number one factor in who gets in and who doesn’t.

Theres no rule that "3" is going to produce anything other than quality.Keep looking!

In California cities can now fine REO properties 1,000/day per code violation for unsafe and substandard houses.I am working with private and public entities here to implement the compliance procedures and the lenders handling our local properties are becoming very cooperative.

TLC is producing a show "Flippers in Trouble" it will follow flippers as they to buy REO's in California , rehab and try (unsucessfully) to resell.

Apply the 50% rule, and you'll see that a higher priced property with correspondingly higher rent will produce the same $100/month at a lower percentage.Very tough to find one that will produce $700/month in real cash flow after realistic expenses.