An accessible introduction to GENERATING RENTAL INCOME FROM REALESTATEGETTING STARTED IN RENTAL INCOMEJust as location is a critical component to the value of realestate, knowledge is a critical component to investing success. Aswith any type of new endeavor, gaining knowledge and experience isessential as you move forward toward success.If you're interested in generating rental income through aninvestment in real estate, but unsure of how to go about doingthis, Getting Started in Rental Income will show you the way.Written in a straightforward and accessible manner, this bookdiscusses the two major ways of entering the rental incomemarket--the traditional purchase of rental properties or buying andselling fixer-upper properties--and reveals what you need to doonce you're in. This easy-to-read guide clearly explains howto:* Invest in the right properties* Generate cash flow adequate to make insurance, tax, utility, andmonthly mortgage payments as well as to allow for periodicvacancies* Make a profit from flipping properties* Take advantage of the tax benefits of real estate* Implement specific strategies--beyond diversification--tomitigate real estate risk* And much moreFurthermore, Getting Started in Rental Income also identifies thepitfalls and market risks of this field, as well as the personalaspects of becoming involved in rental income. If you're interestedin generating income through real estate and want to learn how,this book has all the answers.

Introduction: A Market with Profit Potential.PART 1: Approaching the Market.Chapter 1: The Traditional Approach: Buy, Hold, Hold aWhile Longer, Sell.Studying the Rental Income Market.Advantages to Long-Term Investing.Disadvantages to Long-Term Investing.Deciding When to Sell.The Positive Long-Term Experience: A Matter of Management.Chapter 2: Financial Aspects: Keeping the CashFlowing.Leverage and Real Estate.Mortgage Payments and Rental Income.Rental Expense and Tax Calculations.Tax Planning for Rental Income Property.Chapter 3: Fixer-Upper Alternatives: The FlippingMarket.The Flipping Concept.Attributes of High-Potential Properties.Quick Fix versus Expensive Problems.Importance of Home Inspections.Estimating Time and Cost Features.Rental Income during Your Hold Period.Chapter 4: The Fixer-Upper Property: Abused Homes withPotential.Attributes of Fixer-Uppers.The Importance of Appearance.Recognizing Market Potential: Valuation Theories.The Unattractive Property: A Quick Fix.Creating a Budget.Checklists of Neighborhood and Property.Classifying Expenses: Cosmetic or Expensive.The Buyer Psychology.Chapter 5: The Combo: Long-Term and Fixer-UpperPortfolios.Investment Portfolio Planning for Real Estate.Conversion: Fixer-Upper to Long-Term Hold.Fixing-Up Expenses in Conversions.Combining Both Types in Your Portfolio: Limitations andGuidelines.Living in Your Fixer-Upper.Personal Limitations.PART 2: Rental Income Investment PlanningStrategies.Chapter 6: Cash Flow First Aid: Stop the Bleeding, DoCPR (Cash-Positive Reasoning).How CPR Works.Studying the Essential Cash Flow Problem.Guidelines and Suggestions: Managing the ProfitableSituation.Cash Flow and Fixer-Upper Time Restrictions.Calculating Rental Property After-Tax Cash Flow.Chapter 7: Taxing Matters: Inevitable butAdvantageous.Real Estate Tax Rules.Depreciation: The Basic Rules.Figuring the Base for Depreciation.Tax-Deferred Exchanges.Chapter 8: Risky Business and Rewarding Business:Comparisons.The Nature of Risk.Comparative Risk Analysis.Features Defining Risk.Tax and Inflation Risks.Mortgage Cost Risk.Chapter 9: Diversification and Allocation: ManyBaskets and Many Eggs.The Purpose for Diversification.Forms of Diversification.Why Some Portfolios Are Not Really Diversified.Review and Change.Chapter 10: A Long-Term Investment View.Cash Flow versus Profits.Identifying the Profit Margin.The Importance of Turnover.Fixer-Uppers and Your Financial Plan.Long-Term Rentals and Your Financial Plan.Checklist: The Key Ingredients.Glossary.Index.