I'm not planning on making the same mistakes twice---especially when there are so many new ones to make (hopefully not--that's why I'd like to meet other investors who are learning what to do, as well as what not to do).When you get to town, spend some time with your beautiful baby boy and get to know him--and take you wonderful and patient wife out for a nice dinner.

Like @AndresCalderon said -- the trick is just being patient and finding the right deals at the right time...The Miami real estate market is very competitive and very prone to information asymmetries.

Or do I basically need to resign myself to being patient and saving more?

Rick, we're going to be patient finding the next one.

Just make sure the total cash flow increases after investing the refinanced money.Property 1 was cashflowing +250, after refinancing starts losing 50 a month, if the new property cash flows +500, your new total cash flow is now +400, almost double than before, I would do this any time.Also, its preferable that you buy properties that cash flow or at least break even with 100% financing, that is now one of my parameters on my investments, it forces you to be patient and wait for the best deal possible, it makes the investment safer even if something goes wrong.

Be patient - it is your best friend right now - and make a well -thought out decision that meets your exact needs and wants.Thats my .02 cents!

The last time she called me was days before the owner was to return, and she told me her tax return was en route and she apologised again and thanked me for being patient and understanding.My beef is both with her and the owner.

At this time I'm just kind of gathering info trying to determine the best plan of attack, its crazy out here right now prices keep dropping, I would'nt even think of investing out here right now no end in sight, so just trying to determine if something out of state is in option or just be patient and raise funds.The painting biz is pretty good right now, for me at least, but just about everyone else is getting killed, lots of contractors with no work, some for months now, to bad a lot of good guys.

In some markets, REOs can be bought at a big discount, especially if you are patient and persistent.Networking with a handful of local real estate investors is a good start, but what you really need to do is make friends with the SUCCESSFUL investors in your area.

At that level of court, you aren't getting the best qualified judges, and sometimes they follow their own law instead of what is in the law books.Whatever happens, wait patiently for your first legal opportunity to get rid of your parasite tenant.