There isn't a single number from 2004 that will help tell you whether you're going to make money or not.2) Understand that the ability to make money in buy and hold typically comes down to being able to buy the house right so you can leverage the use of OPM (Other people's money) - i.e. the bank's loan.Paying all cash for a rental is typically not going to give you the kind of return that makes sense.

I know everyone time is important so if someone is willing to help me out and mentor me I will be willing to work for them for free or help them with and technology problem because I am really good with computers its actually what I do for the company I work for now in the IT department. 

Have you thought using the 60K as leverage to purchase a larger property (still turn-key)?

If you are buying right and limit your variables you will weather any market, limit your leverage, be careful of financing with variable interest, and ensure you have a 10/20% cushion built into your monthly cash flow on a rental investment.

Once as a named party in an employee-filed lawsuit where a bunch of us were named (never went to court); once as part of a lawsuit in an accident my daughter was in (settled through insurance), and once by an insurance company when I had been a renter, from an unscrupulous landlord who leveraged my free clean-up of the property into a check from his insurance, who then abrogated the claim against me.

Fortunately, my brother in law is an experienced MF investor located in the Pittsburgh area so I definitely have some resources to leverage in the case that I should seek a partner; something to keep in mind, at the very least.

Easiest solution would be to pay cash for the property by leveraging equity in other properties you own

Doing it myself is one of those things I will put off forever because web things and technology make me crazy.  

Don't get me wrong, I think inspectors over leverage their knowledge base all the time. 

Whether you have $5 or $5000, leverage your employees to a larger number.