Quote from @Allen Berrebbi: Quote from @Dominic Mazzarella: I have personally owned and managed a multifamily property in Illinois and after selling it I said I would never invest in that state again.

I think they contain solid information and will help lay a good foundation as a beginner (Haha, I'm completely new to real estate as well, btw)I'm also going to be reading the following books, and hopefully I can finish all by the end of this month:1) The ABCs of Property Management2) The Advanced Guide to Real Estate Investing3) Long-Distance Real Estate Investing How to Buy, Rehab, and Manage Out-of-State Rental Properties (this might be the most important one to me personally)4) The Book on Investing in Real Estate with No (and Low) Money DownIn addition to reading, I'm consuming crazy amounts of youtube videos, and I'recommend you do this as well.

For example is a personal loan from a bank is 7.5 % that you could use as a down payment (after its seasoned), and your 401k loan is 4.5% but the 401k is expected to return 7.5% per year the money you save on one end you miss out on the other end basically and if your 401k returns are 20%, then you lose out significantly. 2.

This might give a one-time (non-scalable) boost to cash flow, offer multiple value-add options, and allow the house-hacker peace of mind, via the assumed mortgage, in long-term breakeven or positive cash flow in the event that the value-add plans end up not being executed, and/or the person has to move out, and rent by the room or STR become unavailable for some reason at a future date.

The person they consider having the deep pockets. 

I personally don't like the idea of using OPM as is often recommended for people without their own capital.

This person has 8 months remaining on their lease.

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

I know Walter personally.. he knows a lot about real estate from many angels..

You must have your personal finances in order before you invest.