Accounting 101 and 102 is generally required or helpful, but only to the extent of understanding the effects on assets, liabilities and reading financial statements in a management decision, but again you can catch on.How will it help in RE?

Also, I own this in an LLC for liability reasons, which I've read on BP lenders don't like, although I haven't asked my bank yet.I'm hoping to buy 1-2 more houses into the LLC that owns Deal #1 and then find a private lender or portfolio lender/credit union willing to give the LLC a revolving credit line.

My total PITI&HOA&Liability total $786.21 which I cash flow $613.79 a month.

All debts that you have made or guaranteed personally that will have payments due for more than 6 months will be used in your DTI ratio regardless of how you move properties around, it has no effect on your liability. :)

I am starting to wonder how I am going to break the barrier to entry to find my first deal.My outlook at this market is that it's very inflated and very limited as far as opportunities to make money.

Your options are limited when you have bad credit, so I would tackle that problem and get a handle on it before jumping into investing.

And do you limit your purchases to Alaska or do you invest in other markets?

I haven't used it to create an LLC, but would use their service for this if I was doing a basic, small company setup.Anytime I'm creating legal docs for an entity that has a substantial amount of money involved or potential liability issues (i.e. pretty much any real estate venture I'm involved in), I use a lawyer.Lynn

As an example, if you make more then this 110k limit, the mortgage insurance no longer becomes a deduction for 2013.

They do this in my market; however, please note this data is limited in scope and you will not get the same level of information if you were to pull the comps yourself or have an agent do it for you from the MLS.