
Hello, my wife and I bought our first rental house Summer of 2012 in a suburb of St. Paul MN. That went so well, we purchased a townhouse Fall 2012. With a friend of mine, we purchased another 5 townhouses in 2013 and the experience has been really good. A couple rules we followed were: buy in a place I could live in, rent >1% of the property value and cash flow of 10%+. Tip: if you can add another bedroom inexpensively, strongly consider doing it. Thank you