So location is very important, and can mean higher rents.But any rent must be considered in light of operating costs and purchase price.Consider that most students rent for only one year and move on, so turnover is generally high.

Nice job avoiding the soap box grandwally, seems like we all have to tread lightly on that subject.To answer the question, most experienced investors do shoot for a minimum of $100 per month, per door in cash flow.

I thank you all for your input as it is very helpful..I think I should do a little more explaining, as maybe you don't understand all of the situation..As with my first house..This deal was done with the son of the fellow I sat down and talked with, we will call him Joe jr..Joe Jr. worked for his father for 17yrs and knows alot..After I spoke with his father, his father suggested that I talk to his son and see if I could light a fire under him, as I am aggressive, and well, I hate to say it fairly lazy and VERY spoiled..

I invest in the Pittsburgh area (not REO's) and the best advice I could offer is to limit the geographical area to a workable distance.

Well the WCRT mantra is "Learn, Grow and Give Back" so let's green light the charity.How about some cool swag that says "Bigger Pocket Loyal Pocketeer!"

One I cosigned on a mortgage her her first duplex, the other made money in his own property management and light construction business and he bought his first rehab to turn with his own cash down payment.

The biggest issue the 2 of you will be challenged with is how may properties you own which are financed. 10 financed properties is the limit for full doc loans and 5 for stated income verified asset loans.Cash Out refinances under conforming guidelines are nothing special.

Supplies are limited and you MUST RESPOND NOW!!!!

Based solely on your post, in light of the unprofessional conduct WRT the prospective applicant, the time delays, and the above issues, I would suggest looking very closely at the PM's qualifications, and ensure that close and frequent communication is taking place between the PM and investor.

Nathan, I would be cautious about buying 1bd. rental units, limited to singles and couples without children, difficult to keep rented in my market.