Having watched many prior co-workers get paid, cash their check at the casino, and promptly deposit it all into a slot machine I can tell you with pretty good certainty that casinos don't have a positive effect on disposable income and good use of the existing income in the area surrounding :)Are there solid local employers OTHER than the casino in a 15-minute drive? 

The loss of priceless art, jewelry, autos, memorabilia and watches could often match or exceed the property values.

You want someone watching your back here.

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

So, you want to watch tenant credit scores, see the default chart below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% PROPERTY VALUES: What are buyers willing to pay for a property? 

As you read these books, watch the BiggerPockets podcasts.

The latest example, we had a set out (Sheriff watches over as old tenant's stuff is removed from the property) on Dec 13th. 

You could absolutely save the money and over time, learn everything I learned by listening to podcasts, reading books and watching youtube videos (except having the regular check ins with a mentor).

As soon as I get off this thread I will watch Podcast #269.

These loans are quick and align well with your goal of selling within the year...just watch for carrying costs.For Home 2, the $210K mortgage complicates things a bit, but it’s not a dealbreaker.