How Do I buy a Cheap House and Rent it Out for a Profit?

Question

I am looking for a cheap fixer upper, in a university type town; I am in California, but prices don't go much lower than $50,000 here.  I have seen one in Urbana-Champaign, IL area for $10,000 on Trulia. 

Do you know anything about finding property anywhere in the USA... preference to a busy university town, or state capital;  for example, West Valley City, UT is good because it is close to Salt Lake City. 
Likewise, if you know of any areas that are populated where housing can be rented out at $600 per month comfortably, clue me in :)  

Thanks!

P.S.  If this question has expired or should you prefer to email anything, you can still reach me:  my email ramehtar (at) gmail.com

Skye · Accepted Answer

Hi, I'd like to help you search for a home.  I know that here in Anderson, Indiana, you can easily get a house for less than $20K and there is a university in Anderson (Anderson University), as well as several universities nearby, Ball State (in Muncie), Indiana University-Purdue University at Indianapolis, Marion University (Indianapolis), Butler Universtiy (Indianapolis) and The University of Indianapolis.  Anderson is a very close commute to Indianapolis.  The amount of $600/mo rent would be workable in this area.

Let me know if I can help you anymore.  My facebook page is www.facebook.com/julie.barnett.5891

? · Answer

Rent To Own Home : http://RentToOwnHome.uzaev.com/?cORL

Go with the flow · Answer

There are books at bookstores and libraries on how to "flip" houses and how to make rental income from real estate.

How Do I buy a Cheap House and Rent it Out for a Profit?

3 Answers