Have good relationships with the REO agents that allow you to purchase the properties at a large enough discount that you can still resell and make a profit.

Patrick:This is my first post on this site, but let me warn you that as an HOA Manager and a Real Estate Investor, Condo's require more research than single family homes.I have seen investors lose a large amount of money in Condo's because they did not research the HOA's finances, condition of the HOA, and the HOA's Board of Directors!

You plan to oversee the PM intensely for the first few projects to ensure things are done the way you want them to be.If you can do those things, hiring a PM is not a bad idea, but given that this person replaces you (to a large degree) in the project means there is a lot of risk if the person can't be trusted or doesn't have the skills necessary to do the job.As for going rates, it's whatever you negotiate.

This is my observation of large apartment complexes.

. :(- Had the IRS issue a ruling on my use of a large chunk of my retirement funds -- they determined that I get to keep my money

My initial reaction is that this estimate provides both a wildly large range and also a much lower average cost than I was expecting.

So my results have not been tried by fire BUT...instead of using a standard yellow letterI have been using yellow notes...Small note pads (5x7) that give a more personalize feel.I quickly sent out 17 letter the other day and the next day 7 people responded.For the experienced investor that maybe old news but for anyone using the large paper, try the note pad.Good Luck,Demetrus

For example, someone who grosses 50K a year would only take home about 35 to 40K a year but can responsibly buy a house for 75K, extenuating circumstances not withstanding.This may not have a linear relationship as you move up the scale significanly in income.

Robin Grimes,You're paying in too much during the year from withholding or making too large of estimated payments.

The local newspaper said Portland down 4% year over year but somebody on BP posted something saying down 1.6%.Our apartment market is on fire and large new developments are filling as fast as they can build them.We have among the lowest vacancies in the country with 3.1% in apartments.Cap rates went from 6.1% in 2008 to 6.8% in 2009 and 2010 and 6.86% for first half 2011.Housing prices down 28% from peak August 2007.