Jay,Didn't anyone tell you - Never buy a rooming house on Elm Street ;-)I do like the airline personnel model, but find student rooming house and those close to research/teaching hospitals are good bets as well.  

I'd say about $1,300/month including expenses and financing is a safe bet. 

This is not a seamless plug - I would be willing to bet anyone on this site would agree that this is good advice. : )I would highly recommend, as you start on this REI path, that you meet with a financial or mortgage pro (I would actually recommend you meet with a number of them).  

One thing I would say is that given your capital resources, your best bet is probably going to be a Joint Venture type situation with an individual seller.

If you figure out that a Hard money capital source is your best bet...give me a c all

You bet Gulliver, good luck.

I'm not a very experienced investor but I don't think taking a high interest loan and betting on appreciation is a good strategy.

PDF is a pretty safe bet; there is so much stuff floating around in PDF that either Windows 20 and Mac iOS XX will still come with a PDF reader, or whatever they do come with will have an "import PDF" option. 

If you have a sprinkler system, there is a chance that the tenants won't water the lawn as much but I will bet it will be more than if you didn't have a sprinkler system.When you're leasing your house, don't be afraid to negotiate with the tenants so they will not damage the house as much.  

I am not betting my financial future on it.