The reason we are interested in this region is because we have lived here for around 4 yrs (before we moved) and we know that its tenant friendly.

I got my license 2 yrs ago ;)

I have a 6 unit on a 15yr note with 4 yrs left, I receive $2500 in rents per month.

I currently live in Lexington, KY and have been in sales for the last 17 yrs mostly in the pharmaceutical industry.

@Joseph GrullonWelcome. 35 yrs in LE here.

seriously i have never bid,or made an offer on anything for myself,yet i have found a four plex listed for 194,000 ,its in a fourplex area if that gives any example to the type of neighborhood(low income),but its mainly all hispanics and stays rented from what ive noticed driving through the area,it is going to some rehab ,i was doing some figures and this is my plan:listin price 194,000make a cash offer of 115,000 i will only buy at up to 150,000( ill do my best to keep it at 125,000 or less)find an loan of atleast 30,000 more than the price purchased for to cover rehab,etc.it looked as if atleast 2 apts were rented if so i would start rehab on one then another and either request the other renters to move in rehabbed apts at a higher rent or give notice of remodel to vacate.i am assuming from being in the remodel field that one apt will take a full month or two to rehab depending on the need,soon as on apt is rehabbed i will try to have it rented with in that month in order to start acquiring cash flow on each so by the time i get to apt 4 i should have it listed to sell at 215,000, each month a pymt of 1,000 toward loan until it sells 6mth -yrs loan should be down to atleast 110,000,i would pay it off and have apprx 155,000 loan-125,000 price to buy=(30,000 rehab)1,000x1yr(12mths)=12,000 paid towards loan155,000-12,000=143,000 due on loan1 yr list to sell at 215,000possibly after 1 yr on market sell for atleast 200.000this brings loan down another 12,000 for the listed year 143,000-12,000=131,000sell for 200,000-131,000(bal on loan)= 69,000 the loan interest and amt for gratitude of the loan to start my investing would amt to 25,000the remaining 44,000 i would stick with the one who helped me with the loan and start a new project.tell me what you think?

Roof is on the older side probably 15 yrs old.

I have 20 yrs experience in tax preparation, and formerly did accounting work for my father when he owned a 5 unit rental property.  

With 10% down, the FHA PMI will drop off in 11 yrs.

I am 23 yrs old, am currently a self employed house cleaner and have been doing so for about 5 years now, and on the side i also do invitations and graphic design.