(9% NOI can be good, or bad, depending on factors you haven't told us)...

Much of it depends upon the fact that you hypothetically bought the property for cash.

It also depends on the property type...

@Ernesto HernandezYes, there are fee's for your license from the BRE:http://www.dre.ca.gov/Licensees/Fees.htmlas well from your local board of realtors depending upon where you hang your license..

Down payments in the 3.5% - 5% range are available depending on which program you go with. 

Depending on water pressure in the area or the number of units in a building, you could possibly have to sprinkle the building.

But I guess at the end of the day, it really depends on the amount of work you are doing.

I guess my main concern is the rising interest rates we'll be seeing soon if things keep going the way they are, so I'm wondering about locking down a couple more cashflowing properties.I know it depends on individual goals, but I guess I'm wondering what you guys would do if in the same position.

Spend your time on activities that actually generate income.20K might be enough to get into a property, depending on the details.

@Kyle Eckert When you send bulk mail, depending upon the size of postcard, your postage for standard pre-sorted mail should be between .24 and .29 per piece.