Hi Chungsoon, real estate investing is definitely not for those with a weak stomach and not advised unless you have at least some financial cushion.  

The story made my stomach drop a little, but being a newbie myself, I'm going to remember this.

See if you can brainstorm three different payment schedule options that you can stomach, get them to pick one, and explain that deviations will no longer slide.

It makes your stomach turn.

If you can buy it for $150k and have the cash reserves to stomach the lease up risk (and capex) then I would see this as a great alternative to a $150k house that rents $1500.

He still lives in jersey city as do i, you should come out to the meet up in nyc.VA loan will be awesome I'm sure, cash flow will be hard in our area but depends on what you can stomach.

And we have the stomach to go through with said plans. 

It is so easy to sell a property in any condition currently that there is little distress other than probates or foreclosures and I don't have the cash or stomach for blind auction buying.

Cheap properties are found in the worse parts of town (Maryvale, South Phoenix, etc.) and if you choose to go such a route, be sure to have a stomach for that kind of environment.I'd focus on the parts of the city that you would like to live in and also would attract a higher class of tenant.

Looks like step one is asking myself how much involvement I truly have the stomach for both now and in the future.