I only listen to Biggerpockets podcast while driving now, and in my down time when I used to watch mindless television I am watching youtube videos, practicing running numbers, checking COMPS, and trying to prepare to the best of my ability to not come off like a complete and total amateur when I approach one of you lenders on here with a deal I firmly believe will be mutually beneficial. 

Hi all,I am new to BP and just starting to research how to start becoming a buy and hold investor under extremely limiting circumstances and was hoping the BP community could shed some light on the best financing strategy to use for my first few properties.Current Financial SituationA little background on my current situation: I am 28yrs old working in television in NY ( making roughly 55-60k a year- yes it is brutal) I just bought my first primary home 2 years ago in Williamsburg, BK to lock in how much I’m paying for housing year over year in a place where incomes don’t increase as fast as rental prices (2 bd for 340k (this is an HDFC which is how I got a home for this price in an area where the median price is 1.5 million) ) so obviously my DTI is extremely high at almost 60% with no other debts besides my primary home (I also have a roommate who pays me $900 a month for her room which helps with about half my total monthly housing costs) (had a great mortgage broker that really helped me wiggle in to my first home)I now have about 75-80k in equity in the home and access to a family trust with a similar amount of money in it and was looking for the best way to turn buying an initial first property all cash into the ability to buy more properties( out of state of course- looking at different areas in the country from PA to TX to TN to FL).

Contrary to what we see on television, rehabbing houses is anything but simple.

Once a suit is filed the ownership of everything would become public knowledge anyway.Currently in my area a few attorneys have been running television ads saying, 'If you slip and fall on someones property we can get you paid! 

Full disclosure, I posted this in another thread but I think it applies here so I am copying and pasting it to this one, as I haven't figured out how to put the link to just my post:I tell people that I have a story that was built for late night television.

There is actually a whole boatload of money to be made, but, unlike the television shows or the investing seminars, it's hard work, lots of research, and even a tad of luck.  

SELLER CONCESSIONSSeller concessions include, but are not limited to, the following:Payment of the buyer’s VA funding feePrepayment of the buyer’s property taxes and insuranceGifts such as a television set or microwave ovenPayment of extra points to provide permanent interest rate buydownsProvision of escrowed funds to provide temporary interest rate buydowns,Payoff of credit balances or judgments on behalf of the buyerSeller concessions do not include payment of the buyer’s closing costs or payment of points as appropriate to the market.Any seller concession or combination of concessions which exceeds 4% of the established reasonable value of the property is considered excessive, and unacceptable for VA guaranteed loans. 

Walmart has 32 inch flat screen televisions sets for under $250 and I have purchased a 60 inch at Comp USA in Florida for under $500.

I have no experience, but have spent a considerable amount of time watching numerous televised shows about home flipping, and ive read some on the subject. 

I.e You would also have to be mad at every hotel that used their nicest property on a television commercial to represent their lackluster properties, or anyone on BP who advocates constantly leveraging property to buy your next property.#3 Atrociously Expensive. is the one that draws the greatest ire, and I'm really not sure why since the entire BP boards existence is predicated on the notion of an industry that specializes in selling at a profit, or servicing for fees.