As a finance major, I only skimmed the surface of Real Estate, but want to continue to gain more exposure.

It's great that you got started, but according to what you said, you put yourself into a finical position that is making it difficult for you to continue to move forward with investing.

I've found dozens of great deals in the areas I already know (I love doing a regression analysis after a final sales price has been established merged with a prospective analysis on a project) - but before I pull the trigger on doing one myself, I know I have a bit to learn first.

My interest rate is a five year balloon loan at 5.9% with a final payment of $33,258.21 due on October 5, 2023.Total collateral value: $92,000Original Note: $64,150Payoff: $52,794.67Pledge LTV: 57.14%I’m with a local bank, but wanted to use if I could get a lower interest rate and a 30 year loan in my name?

Hopefully no shady business, but I'll be going through the docs with a fine tooth comb.

There's also a stipulation that says their rent actually increases by $100 w/ a mth-to-mth tenancy...After some more thought, I've decided to give the tenant a 60-day notice for non-renewal.On your point about inspection: I was planning to do a final walk-thru after she'd left...

@Peter Deutelmoser, Don't forget to have a final walkthrough.

While that's a fine "starting" statement, you need to get down to some sort of brass tacks. 

Just make sure you are working with a turn key company that allows for a finance and appraisal contingency.

That's one of the fundamentals they teach you in the 2nd year of economics or finance.Source - I was a finance major