Originally posted by @Max Petrov:@Nick B.For me it takes much more longer) You  need to develop a model of a good deal and then just compare what you see with that model.E.g., your good deal may be priced at $80/sqft "all-in" in the submarket where retail houses are priced at $110/sqft and rents are above $1/sqft.You need to know these numbers before looking at individual properties.

I wanted to develop a little more of a knowledge base on choosing a potential location before I really started trying to make connections so I'm in the process of finishing emerging real estate markets by Dave Lindahl then the plan is to pick a few markets and start connecting like you said.How long ago did you start investing?

I know with rental properties, one of the main goals is the build long term equity in that home with some extra net cash flow after all expenses and savings.

As far as renting out the extra rooms, just be open about how the space is used.

Pay the extra for someone that won't cut corners.

I was impressed.I also like the extra column (prorata) for expected expenses.

Check your generators if you have them , have extra fuel .  

What brought my rents down there for a couple years is there was a ton of new developments in the area (yes development can negatively affect your property) and with the increased housing supply and new apartment buildings that went up, it pushed my renta down in that area.

If the big house was valued at 218k (with all three lots included), are you telling me that the extra 640sqft of living space in the little house is only worth $29.5k???

You need extra cash just in case.