Not knowing the neighborhood it is hard to talk about building styles, could you do something along the lines of townhouses with the 4plex?

To answer some of your questions, they're definitely a great asset style to go after.

If on the other hand your immersion into the hippy life style involves a simpler way of life then you could obviously get by on less but you need to concentrate on purchasing at a much faster rate.

Okay this is one of those situations where I am sure there is no definitive answer, but I am interested in seeing how everyone's management styles would address this.Abbreviated facts:Tenant moved in on 1/1 of this year, have had a good relationship with them thusfar.  

You need to understand costs involved, even  in a quick flip. to understand these costs you should know the marketing time, and for the type and style of home in that location.

Seems to work well, they can use the area for decoration; battery operated candles and such if the cover is unscrewed but otherwise it's made to look clean, fresh and nice but not to be used. 

You keep learning while you continue to grow your savings to a point where you can enter the market at a higher level.Adjust your life style to insure maximum savings.

Since this will be my very first investment property I was just wondering if anyone could give me advice on what to look for and if this style of real estate investing is a good way to go for a first-time investor.

I thought he was going to come in and build cheap track style homes and try and get the biggest bang for his buck without any thought to the neighborhood or the impact those new houses will have.

And when it reaches the level to fund a new property (after the increased cushion the new property will dictate) I pull it and purchase.At times I get frustrated because it doesnt allow my portfiolio grow as quick as I would like, but my style is essentially fool proof.