I use MidAtlantic, and have been very happy with their ability to fund deals in a timely fashion.  

So that's why I still use good old fashioned yard signs when I have a vacancy in some of my rentals.)Nevertheless, I think in general it's often a good idea to buy in the best school district you can afford because it will open your property up to a wider variety of renters. 

I would choose an island with a good work surface that could double as an eating surface with bar stools on the living room side and cabinets on the kitchen side.

The numbers I ran on this seems like a good deal on the surface - but as you said - with all the deferred maintenance that will have to go into it the payoff may not be there.

) Thanks to all of you for this forum, I am just now scratching the surface of this awesome library of information!

Not to mention keeping the extra $59k more liquid.Take my opinion with a grain of salt, I'm inexperienced, and what seems to make sense on the surface, may not in the long run.

On the surface it looks like there would be tons of information it can provide you but the stuff that would be the most valuable they have little information on.

I was looking to see if any newbie investors have gotten started in a similar fashion and what the outcome was.  

This to me is another example of our we-want-it-now culture and entrepreneurs being unwilling to put forth the effort to grow a business steadily the old fashioned way.  

Each portion of the work scope should be broken down within the draws so that things are done in an orderly fashion, and you should only pay for work that is completed and has been verified in person by yourself or your trusted appointee (who should have construction experience and be independent of the contractor).