My wife and I recently purchased another house to use as an investment and rental revenue. The key is to keep your eyes open for houses and do the math on them. How much will all your expenses be versus how much you can charge for rent. If the math works, then it will probably be a good place. There are of course a lot of things to factor in, but at least it provides some sort of analysis to know whether it will work out or not. Foreclosures is one way to find homes that may be priced for less. Just search for the area you are looking for like Outer Banks foreclosures and go from there.

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Original Post: Saturday, August 14th, 2010

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