I'm using the 401k as we speak...

It kind of speaks for itself that this is where many great buyers will be.

And any comments online tend to be negative from previous tenants, so that's not too helpful,I just noticed my property manager has no ad for my property on Craigslist.

I'd actually say many rentals are cash flow negative, given how many people thing "cash flow = rent - PITI".

If you borrow from your 401k, a lender will want to make sure your current income(without the rent from the property you're buying) will be able to handle the new Principal, Interest, Tax and Insurance payments on the new place on top of the 401k loan monthly payment.When you run your numbers on a potential property, factor that 401k loan into your debt expenses so you're not running in the negative every month (defeating the cash flow purpose).

I'd be happy to speak with you further about it if you want.Best,Joe

I heard another investor tell a story on securing a lead and speaking on the phone with a homeowner who was motivated but needed or appeared to need a push aka playing hard to get.

It's also good to speak to sellers if you can to get a meeting of the minds before going to much trouble, especially if you're making low ball offers. :)

There were so many properties on the market, prices plunged, and there were not enough buyers at any price.This was a very local problem, which speaks to why reliance on state or national numbers can be very misleading.Example of a common cost pitfall; not determining and considering all the associated costs of owning and holding a property.

We just came from Norfolk and I can speak from experience.