No realtors will take a rookie, he may take a mentor and agree to a cut of rookie commission for three transactions.   

With our average sale price of $550,000, they're within $55,000 of actual value - EXCEPT for the 21% of homes when their error is more than $55,000.PS - if you're buying, you should be using a buyer's agent. 

Basically, the commercial lender wants to make sure you're not living off the property's income, it covers its own expenses with adequate margin for error, and you've got more than just your downpayment in the bank, in case you have to come out of pocket to cover some rough times.

Rookie move on my part.

Excited to learn!! Grinding one day at a time. Where can I find good info on analyzing a good deal?? 

The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error.

We bought it at a good price for the market we were in ($130k and we project selling for $250 on the conservative side) mainly because we knew that we were new to this game and would most likely make all the rookie mistakes.

Hi all,I am new to note investing - so new that I have not closed my first deal yet, so I have what is most likely a very rookie question.  

Not a lot of room for error with rents that low.

@Jeremiah Dagel Brian's advice below is very good, there is technically one error in that FHA will allow you to get a loan if you have a mortgage within 100 miles.