Honestly if you still have these questions as your about to pull the trigger then you're not ready to pull the trigger.  

I waited until I knew enough about investing, to reduce my risk, before I pulled the trigger and made my first purchase.I'm taking massive action to acquire properties over the next 5-6 years and take advantage of the low interest rates.

I have been consuming knowledge for over a year, and it's time to finally pull the trigger!

So if the property has increased in value then you may be triggering capital gains.  

It's common for the sink plunger and trap to pick up hair, soap, and turn it into things that nightmares are made of.

As long as this is the only hair on your file to purchase the primary residence a bank should fund your deal.  

. :)Just talked to my agent minutes ago and it sounds like we're pulling the trigger on our first house on Monday, when we're back in town.

I am about to pull the trigger on a condo in Pasadena, CA and upon digging into the financials of the HOA discovered that they are funded at about 30% of what the third party HOA analysis firm would consider a full reserve.

I'd been listening to the podcast for about 4 months or so, even started getting prequalified for a mortgage but never pulled the trigger.

Yes, that is one option.As for the best plan of action for you, only you can decide that.Understand and weigh the risks, and if you have done your due diligence and feel good about it, pull the trigger.