n00bie here; opportunity check

[Jason Robinson]

I'm interested in REI as a long-term passive income for my family. (Computer nerd by day) I'm located in Northwest Arkansas and have lived in the area my entire life. I was raised by a tradesman; have seen some construction projects ran and I'm familiar with contractors in my area. I have an opportunity to purchase a home and I would like to check the opportunity with an experienced investor to see if my thoughts/approach is correct. My goal for the property would be to renovate and rent.

Where is the best place to bounce this information on the forums? There is a ton of information on here and I'm trying to be methodical in my approach to absorb as much information as efficiently as possible. 

Thanks in advance! 

[Jason Robinson]

Not sure in my area what % vacancy looks like, since I'm new I don't have anything to go off of for maintenance budget either. I'll have to do more research here for sure. 

As for funding. Bank is offering a construction loan up front on it w/ the as-complete appraisal. They will issue the loan and allow me to draw against it to purchase the home, then do repairs. After 18mos (interest only note) I can convert to a different financing package.

Good to hear I'm not off in left field; I'm sharpening my pencil and digging in deep. Was blessed to be brought up with a variety of experiences and resources. Maybe that'll payoff as I head down this adventure :)