Actually, I know a bit about how the RE deal goes. What some do is buy a 3-4 unit multi family house/building i na cheap city like Buffalo, NY. A few years back i was thinkign about doing the same thing but that means work and I am already rich lol.
But I know what to do. You find a home. I saw some listed for 50-60k a few years ago. You rent them out. The property taxes would be between 3-4k per year. Some times the apts already have tenants.
You try to get the apts to qualify for section 8. Basically, the gov't pays you and guarantees you get your rent payments. All you have to do is meet some standards. You buy a few properties and do the same.
If your lucky you can get one near the big university. But dealing with the gov't better.
But I know what to do. You find a home. I saw some listed for 50-60k a few years ago. You rent them out. The property taxes would be between 3-4k per year. Some times the apts already have tenants.
You try to get the apts to qualify for section 8. Basically, the gov't pays you and guarantees you get your rent payments. All you have to do is meet some standards. You buy a few properties and do the same.
If your lucky you can get one near the big university. But dealing with the gov't better.