Jon points to title as there is where the concept comes into play.

They play it "safe".I'd say many of us agree that you should leverage some of your equity...not ALL of it!...

Stay tuned for updates, I am playing phone tag with the seller!

One of them is:- Criteria (how to find the best deal)I understand the math part, but I'm sure that there are other elements at play such as location, the type of neighboorhood, etc.So my question is thisHow do you narrow down from a broad selection of properties to a single ideal property ?

"Run down, less appealing" areas are often where you find your profit for rentals.Nice houses in nice areas are speculative plays.

Larmon, with only 17 posts and your post playing so well into the list of favorable factors listed by CJ, sure looks like you might know CJ.

@Randy F.As a licensed contractor who does things correctly and plays by the rules I completely agree Randy.

If I'm doing any proforma estimate I'll use 10% after PITI.The only reason for me to do such guesstimations is for financing matters.I understand that many investors like to play with their calculators, I'm guilty of that at times to put a smile on my face.

There are plenty of things in place that make no sense.Just be glad the funds can be gifted and they are not required to be "seasoned" in your account.If you want the property you have to play by their game.

I cannot deal with this.I've been the nicest, most pleasant landlord to deal with.Our kids have played together for chrissakes.By the way, interesting enough, I called a buddy of mine and spoke to him about it.