I'd love to hear any of your own real life examples of what you've done in similar situations.And yes, I'm asking this because I have a friend that actually has $50k and wants to eventually get into rentals but is scared to take the first step and very unsure of how to go about it. 

There aren't many areas of Tacoma that aren't a 10 minute drive from Hilltop.But, from a longer term REI standpoint, it doesn't seem to me that Tacoma is poised to explode - it's an older city and was built out to within an inch of its life long ago.

I would also like to hear stories from anyone who wants to share about how they got started, or any kind of advice anyone can offer.As for me I graduated with a BA in Theater and after graduating I realized it was not what I wanted to do for the rest of my life.

Here's a link where @Chris Martinposted about reserves as the lenders want to see them funded, and where I gave some links to projecting useful life of various systems to facilitate establishing reserves:http://www.biggerpockets.com/forums/432/topics/867...

I've lived in CA all my life and  prices have been in a perpetual out of control state with a few exceptions over the years.

I like the fact that I always have an income and health insurance for me and my family no matter what happens in my real estate life.

I came across 'rich dad poor dad', as it seems most of us have and decided I wanted more out of life.

I recently left my corporate America job to pursue my passion for real estate.I grew up in Lincoln, Nebraska and was surrounded by real estate investing my entire life.  

Also I was told that in pa a FHA has to be owner occupied for the life of the loan by a mortgage broker when I purchase.

If you are young, work a 9 to 5 job, are unhappy in that job, and real estate interests you then Rich Dad Poor Dad will change your life.