My wife is always looking for something to do besides staying home with the little ones. She was looking for to go back to work, and I thought it's not a good idea for the family. Although she has MBA degree and is a CPA, but she doesn't quite like to work as an accountant.
Now she is interested in becoming an landlord, to buy some condos for renting out as her part-time activity. Although I was not interetsed in real estate investment at all, and didn't like the idea of running into a lot of trouble with some bad tenants. But she managed to talk me into visiting some short sale and foreclosure condo units on Saturday before going to the party.
Here is one of those condo units we visited.
It is located not far away from our home in a very nice community.
The unit is 1/1 with about 750 SF. Asking price (foreclosure) is $49,000. But the association fee is $250/month, and the rent is around $650 to 700/month (not very high because of the location).