Thanks to a few meet ups and the fantastic podcasts/webinars on BP, we're "all in" these days for real estate to be a major wealth generating opportunity for us long term.Thus far, we've been VERY fortunate with our renters, because we spend quite a bit of time vetting them to the very best of our ability.

@Ashley Dibble - I'm not exactly sure, it sounds like a fancy way of putting that the whole thing needs to be torn down/majorly rehabbed IMO...

I'm planning on using the majority of what I'm saving to bankroll my next investment, but the progress is slow. 

Are you bringing other CapEx funds to the deal or are you planing on using the cash flow to make major repairs?

With out of state the major benefit is that you are forced to form a team to be successful.

You can find some deals there if you look and most have the 'mother in law' suite in the back.The kicker there is that the majority of them are not zoned to add one... don't quote me, but I believe it needs to be R2, R2A, or R2AA to add them in.

Thevast majority of rentals and private homes in my city have them.

The house needs some repair - flooring throughout, paint, and a few odds and ends, but nothing major.

We have survived two major recessions by not over buying.

One of my rules is to require 6 months at their current job because this is the standard probationary period for the major employers in the area.