its a big pain in the butt to coordinate showings with tenants and you dont want to burn out or piss your tenants off by inconveniencing them with potential buyers who maybe just kicking tires..

But agree that the condition of the roof could be an issue for your lender and your potential insurance carrier.

Research the different aspects of real estate investing and see which one you like2.

Each requires a unique set of skills.Identify potential investment propertiesAccurately estimate probable rent and time to rentEstimate ROI and cash flowIf the candidate property does not meet the return goal, look for another one.

I'm looking to buy a duplex that is currently rented and livable but needs renovations to bring it up to its full potential.

My wife and I previously owned real estate in our joint names in both Florida (where we currently reside) and in Virginia (where we previously reside)Following ur research and some legal advice, we established two trusts (one in each of our names) and also two LLCs one for all the properties in Virginia and the other for all the properties in Florida.We have deeded all the properties in Florida into the Florida LLC, but we have not done so yet for the Virginia LLC.

Your earning potential of $23/hr in Illinois can still provide opportunities for real estate investing.

Here's time & money an agent or PMC needs to spend to get a rental listed:1) Make sure it's clean2) Hopefully, take professional pics and just not use the camera-phone3) Take room sizes and note positives and negatives about the property4) Since most rentals aren't advertised on MLS, research multiple sources for rental comparables to determine rent.5) Write a GREAT ad for the property6) Syndicate or manually enter the ad on numerous websitesThen, once published for rent, how much time do you think they spend taking all the phone calls (most of them from idiots who don't take the time to read the ad), doing all the showings, chasing applications & supporting docs, processing applications?

I would speak to your tax advisor on ways to potentially avoid this.

This is not a scare tactic its more of a buyer beware to do research and pick a good Bank/lender.