Loan basics ?

[Kenneth Rocker]

My name is Kenneth Rocker and I'm currently a graduating senior at North Carolina A&T State University. In hopes of financial freedom and a self controlled lifestyle I have decided to focus on REI as my main business venture. I am ready to buy my first property.. well at least start looking, and I plan to buy, rehab, and rent. Can someone briefly explain how real estate loans works? Specially I want to know how to evaluate if the bank is essentially giving me a good deal. Any advice is appreciated, I plan to have my first property sometime over the next 3 months.