Become a landlord for 5K

I don't understand what your strategy is? Are you purchasing the property on a seller financing with the 5K down? then renting it out?

I love doing that strategy, it works amazing well, the fun part is to get the seller to agree to seller finance the home for you.

Am I thinking correctly?

Mike Kessler
ADvisor

you may want to post some more details about the property, i.e. FMV, amount of loan, amount rent paid, a lease in place, any rehab required, etc.

You may want to put a bio up so others are more willing to network with you.

Maximize your market. Once you own a property or two in an area, adding a third nearby generally makes sense, says Chris Clothier, co-owner of Memphis Invest, which buys and manages rental homes for investors. "It's usually easier to manage," he says. You can also save on maintenance by using a single contractor.
If fielding late-night calls about water leaks doesn't grab you, grouping your properties will also let you find a single company to manage your properties (typically for about 8% to 10% of the rent plus commissions).
Of course, you'll want greater diversification if you're buying in a smaller town dominated by a single large employer.
Think duplex or triplex. That extra unit probably won't cost you much more, yet the extra rent can be significant.
Three years ago real estate agent Greg Markov bought a triplex in Phoenix for $70,000, or about $5,000 more than what he would have paid for a single-family home in the same neighborhood. With more units, Markov's maintenance costs are higher -- he budgets $2,000 a year, vs. $1,000 for a one-family home. Yet the three units throw off $1,500 a month in rent, not $900

Randy Bailiff
Dean Graziosi Investment and Life Coach

Will these strategies work in Colorado? I’m in the Denver area. Are there any success stories here? It seems very hard to find any opportunity’s to become an investor.