Hopefully by then I'll at least have a slight grasp on Real Estate investing.

Reading and understanding court records is paramount for bidding on foreclosure auctions.I am not absolutely certain I have grasped it. 

I am willing to go the conventional financing route as well but the 25% down payment puts most 4 units out of my immediate grasp without getting creative.My questions:1) Does anyone know good lenders in Madison, WI (or surrounding areas) for FHA loans on 4 units?

I have been prolonging a conversation with them, because I don't have a good grasp on the value of their property.

I’m comfortable managing the tenants/properties but don’t have a good grasp of how the close these non-MLS as this will potentially be my first one.Based on your experience, do most agents accept a flat rate, opposed to standard commission, to manage the close process in these non-MLS scenarios?

If I feel they have a grasp on the values of the market, I'm very loyal.  

Ideally I'd try to find a real estate agent who is also an investor, or who works with investors regularly, so they have a grasp on what exactly you're trying to achieve.

If you haven't identified who that is that is something you want to probably get a grasp on ASAP.

I would just say that you need to get a firmer grasp on what the "actual" expenses are.  

I have read many of the posts here on BP related to wholesaling and I feel that I have a fairly good grasp on the concepts.