House hacking (buying and living in the unit while making repairs/upgrades, rinse and repeat) may be a good option as it can be hard to find properties that cashflow in this area but making upgrades to distressed properties can build you equity right away.

I would get contacted repeatedly by these folks who bought the cheap course and would pound Craig's list to try to wholesale or broker notes they did not own..

@Dennis WeberUBIT is simply a tax that applies to a tax-exempt entity when it engages in a trade or business on a regular or repeated basis.  

We have a person in the Social Service department that frequently calls us about vacancies for section 8 apartments.

Next steps: 1) Create a flyer or Postcard that we can hand out 2) Create a more professional business card (currently have my ASU email)3) Knock on moor doors4) We are going to pick two neighborhoods and test a different marketing plan in each and whichever wins we take the winner and then a new idea and repeat.

Regardless I was making around $2k-3k per month and a good amount of those renters have become repeat clients of mine (referrals, buying, selling, renting). 

Cash Flow Market Value Stability Appreciation A Combination of these oCash Flow and Appreciation have an inverse effect oMarket Stability will provide Predictable Results, but Values & Rents remain flat.A few Questions to consider: Is your evaluation standard Repeatable (i.e. 10-12% CAP Rate: Can you continue to find properties which meet this criteria?)

Plan is to buy it, renovate, rent it, cash out re-finance after 6 months seasoning, and then repeat with a new property. 

If this is correct you should be able to refinance the property after the rehab and pay off your home equity loan and repeat the process.

Yes, please let us loudly and frequently thank all the other investors busy on Craigslist and the MLS.