This will give you tons of experience and prepare for going into the field. 

Do I just forgo the reference check?

Your forgoing rental income for prestige you know.

I’m trying to figure out if I have to actually come up with cash for the purchase and forgo other deals or secure financing to obtain the property and then refinance out, using a minimal amount of my own capital.Thanks for the reply!

If you do think it would be fine to get in soon, does anyone have any strategies for going about my first rental property?

@Pancham G.That bill is dead on arrival but I agree that’s a fair solution as long as the senators that vote for it are willing to forgo their income for a year as well, while paying all their expenses.

You may want to look into a Home Equity Line of Credit, it allows you to tap into the equity at your own pace and forgo any closing cost.

The point isn't to complain but to make this larger point--no one would chide a grocery store for going out of business if laws practically made it legal for customers to get thousands of dollars of free food a month.

Had it rented for going on 4 years now, and rent started at $1550.

You either evict if you HAVE to get the house sold (there's scenarios), or you just tell them they are permanent renters and they forgoe their option fee.