It's a great way to get your feet wet!

Buy it for 80K, rent it out for a year or two, get your feet wet as a landlord and managing the property.

What they will most likely have you do if you want the property in the LLC's name is have you sign with the LLC as a member and guaranty the loan... sort of like co-signing... really that's what it is.You now have the LLC's feet wet and gaining credit.

Get your feet wet.

are lease and option a good way of starting to get your feet wet?

I wouldn't think I'd be able to get my feet wet via development, just seems too over my head.

Plan for the costs for those changes as well as the rent from a single family.Second kitchens in the basement can make a nice wet bar.

Once you get your feet wet things will seem to fall into place.

Sorry, but there is nothing that anyone can tell you in a single response that would provide enough insight for you to go out and start making successful deals...Try this:Go read through these forums, read at least a couple books (I recommend starting with "The Millionaire Real Estate Investor"), start asking a lot of *specific* questions, and find a couple successful investors in your area that are willing to help you get your feet wet...J Scott

It's a buyers market and the perfect opportunity to get your feet wet at a good time with a steady job to fall back on.I have a high school education but started working as a property manager when I was in my early 20's watching and learning from the big boys.