You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property. 

The rental market demand is still extremely high and there are a lot of value add opportunities, you just have to be willing to put in the work.

There are plenty of video reviews and Bigger Pockets comments on his website if you scroll to the bottom.

This means that if the bank forecloses, and you can’t pay it off, you will lose all of your money with no recourse to anyone.One option to secure your loan is if one of the partners has a free and clear property worth significantly more than your loan.

I'm a 100% committed student of the real estate industry.

I am looking to buy my first investment property and have heard a lot about  Fort WayneAs an out of state investor, I am looking to connect with investors/agents in the area to build further knowledge on specifics with the markets and hopefully bring business to in the future!

Ran out of water, LMAO.

For this I’ve taken the payment amount of the second loan and included it as an additional monthly expense.

Build out the network for GCs in your area and start to bid jobs, then you can build out how much each job would cost.

Typlcally, a lender is going to lend 75% - 90% of the Cost of the project (property price plus rehab cost (scope of work)) or 70% - 75% of the ARV (As Repaired (as completed) Value).