I'd dig deep and search for your goals in RE and then see if the investment matches your goal.

It is listed as a lakefront property, but the lake it is on is only 4 feet deep, and doesn't hold any fish, nor could you really boat on it (that doesn't really count as a lake in MN if you ask me).My feeling is that this place is really worth about $325K (tax assessed value for this year is $304K).Am I a jerk for wanting to offer $270K less than their asking price (pending our walkthrough tonight goes well and we like the property)? 

I was forced to take a deep look at all possibilities and account for them. 

Just starting out - unless you have a deep pockets W-2 job, substantial savings, or Wife / Significant other with significant income from my experience, it will be tough. 1.

This is just a strategy that I came up with and I thought I could utilize creatively (if the numbers worked or course) with all this I hear that you could rehab a house with no Money and not get neck deep on just a high Interest HML.

and knee deep in the mindset change that comes from the gateway drug that are the Kiyosaki books and Think and Grow Rich, and stuff online like BP.

You also have to take into consideration these expenses:  Monthly management fee, utilities, insurance, repair reserves, taxes, HOA fees, once a year deep cleaning fees etc.

But then some experienced buyers are willing to tackle it because the purchase price will usually be slashed in order for the current owner to be relieved of that burden. 

Greetings everyone, Just found BP and I am hooked and diving deep into the world of Real Estate Investing.

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