If starting one, then think about after-hours service calls (how to handle), what size properties to take on, think of things that you can grow into as the business becomes more successful.

You make money on the down payment, the difference in monthly payment and any residual as the final cash out by the third year.

Abilene is a wonderful town, just the right size.

Hey Greg,I originally started out in residential as a real estate broker.I looked at residential for investment but never pulled the trigger for various reasons.I felt back then the market couldn't keep going up and I was right.I know many sellers now that are STUCK and wish they could buy but they can't because they bought at the height of the market.I only do commercial now.From an earnings standpoint as a broker it doesn't make sense for me to put in 40 offers for an investor on a small house to maybe make 700 to 1,000 bucks on the deal when it finally happens.If I can put the same time and effort into commercial and make 10 to 100 times that much on 1 deal then why work more for less??

http://www.slideshare.net/celsenhans/top-mf-brokers-final

I have negative net worth so nothing real valuable to protect in a lawsuit at the moment :) At some point I will get more serious with that as my financials should finally start swinging up as I go through my 30s here (college debt can be brutal!)

It takes me (I'm not a realtor) so much work to find these things, then to rehab them, then finally to get a tenant into them, that I think it would be too daunting if I was looking at much more expensive property.

If the statutes do not address your question, then the case law very well may give you the answer.3) make sure any case law answer to your question applies in your jurisdiction.Note about jurisdiction:Jurisdiction means a certain geographical area (for this conversation anyway - there are times when jurisdiction doesn't refer to geography.)The size of the geographical area depends on a number of factors.

You also need to know the sq ft of these homes, lot size, etc.

This can let you get more details about the condition, size, and amenities for the property.