If you do not budget at least 5% for the tenant that loses their job or decides to stay and not pay, then where would you get your funds from? 

Orlando, Fla.Average home price: $247,5503-year population growth: 7.6%2-year job growth: 7.1%1-year home price growth: 9%3-year price growth forecast: 35%2.

We never did rent it to anyone other than my sister-in-law for a short time.I now live in what will probably our "forever home" and am interested in getting into real estate to start making some passive income and ultimately quit my day job.I have listened to a TON of the bigger pockets podcasts and am primarily interested in renting, however, I also don't mind getting my hands dirty and have dabbled in contracting some jobs out myself so may get into flipping as well.My wife and I are big fans of Dave Ramsey and are within about 5 years of paying off our house.

In addition, look in Attleboro.Acquisition prices are lower, and so are the rents - but I frequently see MFRs that meet the 1% and even 2% rule.Check the crime heat maps on Trulia to get a feel for the neighborhoods.BTW, New Bedford has done a really nice job cleaning up the waterfront. 

For my W-2 job, I travel a lot and am often times out at sea for weeks at a time.I am currently out to sea and there have been some problems the have sprung up at home.

I would recommend you try to find an investor, real estate agent, property manager or contractor to intern with or get a part time job with.

So in researching rehabs I found this site, which claims to give ranges for various work and jobs by zip code.

I held several jobs in the retail/wholesale apparel industry particularly in sales and account management. 

Now your job is to get this property under contract for 25k then find a buyer and be transparent as possible and assign the contract for 5k.

I recently switched jobs and currently debating on what to do with my 401k, now that I have options to do a roll over into my new company's plan, roll into a self-directed IRA, etc.