After you're done with that you can always buy a single family to start a family in if you need to.I think it's the best strategy to get started and make a big change in your financial position!

Have a look at their web site, there is a meeting tmrw night.

I have learned so much from this website already!

You don't want to be in that position. 

You need to get yourself a website and begin to build it out.

Who knows what they'll damage next when maybe you could've given them cash for keys beforehand.Also, you need to pull prospective tenants' credit reports & do background checks, including calling their employer at a phone number you get from the company website.

Our county assessor has an excellent website that give a lot of information regarding properties. 

The rent doesn't meet the 1% rule but the potential for positive cash flow is there. 

So, is it a good idea to start with creating a LLC and website to develop a business platform? 

After running numbers i'm looking at around $780/month in positive cash flow .The seller owns these properties free and clear and wants 5% interest and for me to pay any transfer/closing costs, i'm estimating $1,500.My question is, how do you pay down principal on a deal like this?