I owned 40 rentals which included apartments, duplexes, multi-families and single family homes. 

I am upfront my down payment comes from a cash out and no one has rejected me yet.Counting all your rental income to offset current mortgages is key (including the cashed out, now mortgaged duplex).

So this is the path I've chosen to follow up to and including being part of my retirement.I believe that networking and gathering real life experience from doing work myself along with following other's guidance (who have been there/done that) will garner me more knowledge and success than paying "gurus" thousand of dollars for bus trips through a city and region I already know well.I am still formulating a 5 year plan (yes, they are passe now a days but I'm old school) and I feel the first steps would be to connect with other REI's, join the local REI Groups and begin growing my network.Any guidance, advice and suggestions from this point forward will be greatly appreciated!

My townhouse is purchased with an FHA mortgage and has PMI as well as HOA of 192/ month that includes water and basic cable.

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?

We screen, including calling vet, charge a pet deposit and have rules in the lease about maintaining dog damage, flea/tick meds, and no disturbing the neighbors with barking.

Net worth of assets in businesses is not included in the FAFSA application.

The mortgage has a small balance of $22,000 with a $232 of monthly payments which includes principal, property tax, and fire/water insurance.

You have enough info right now, and including the REIA meeting networking, to be very dangerous.What you need to do now is this:1 - Learn Market Analysis.  

A Protected Tenant is also a tenant who is terminally ill as certified by a treating physician licensed to practice in the State of California, regardless of their length of tenancy.Application fees submitted will not be refunded, including when it is determined that a tenant is a Protected Tenant.