Hi, my name is Joe. I recently bought a condo in Miami as a rental investment. It was not hard since I already knew my tenants and where I needed to buy. You see, my son attends college in Miami; he was going to rent an apartment with his friends because they hated the dorms. I am already paying rent for another son that goes to college in NYC, so I thought, instead of paying another rent for my son in Miami, why not buy a place that he and his friends could live in and pay me rent. Well, it is working out quite well. The rent that I collect pays the mortgage; so it is not costing me anything to own this place and I am gaining equity. Now I don't know if I should buy another place and rent it out to more college students. I paid cash for this condo by taking out a home equity loan on my primary residence. I could take out an equity loan on the condo in Miami since I own it without a mortgage tied directly to it and buy another rental property. Does this make sense or am I missing something? I feel that there is a good market for buying in college towns as long as you get the right students to rent the place. Is what I am doing a very risky way to invest? Please let me know what you think. Has anyone else done this with good or bad results? Thanks.