insurance policy is a good way to go.I have been in this game for 40 years and never even came close to sniffing a lawsuit from a tenant.. but of course the very day I say this you get sued..

Spend time on the forums to get a solid grip on the real estate game.

That changes the game a lot...you don't want to move somewhere of course that you hate just for the sake of being able to invest there.

Title III will be a game changer in the real estate space for smaller projects.  

Evaluate your personal budget, can you find that money monthly?

To fill in the gaps and gain the confidence I need to properly evaluate a deal and then pull the trigger.

It just that I want to try out flips and evaluate myself as to if I would be a good fit and learn more in the process.  

Either way it looks like I will be doing month to month then and spending the extra money to give the resort atmosphere to include wifi, laundry facility, etc.I use my own lease that I drew up and fined tuned over several years after evaluating many other leases and through personal experiences.  

It sounds like you have a solid game plan and are ready to put the rubber to the road.

So townhouse/row houses are pretty much the only game in that neighborhood and those townhomes can go for something in the $300-$600K range.