But they’ll need a proactive CPA who understands real estate — not a typical “file and forget” accountant; Rick I really hope this helps you help your friend, I sent you DM on BP, it's one of the reasons I do this, I hope you can assist. 

Don’t forget to check out off-market deals, they can give you better returns.

Hover over them and a popup window will appear, with a choice to Report Abuse.

I tell them things I have done, places I have invested, tactics for getting a better deal, ways to afford a better property, etc.

Once you factor ~6% agent fees plus holding/closing costs, that “profit” window can shrink fast — you could easily eat up $20k+ right there.Couple things to think through before pulling the trigger:Run a detailed cost sheet.

Do not ever forget that education is a long term thing.  

Seller financing can make things tricky as any cash that doesn't roll into the new property would be taxable.3) Don't forget about good ol' depreciation recapture.

I'm guessing this would be your first time buying a home (like myself) so don't forget to also check out FHA guidelines and requirements ;)

@Leanne Pressly,Totally get it - sounds like you’re looking for balance more than just returns, especially after a long run as a landlord.Given your 30-day window, I’d lean toward something simple and stable like a turnkey long-term rental in a strong cash-flow market (think Columbus, GA or parts of Ohio like Akron/Canton).

Items like paint, new flooring, maybe new windows will not get you close.  2) high value areas.