Hello,We have a deal that we're analyzing, since we are new to investing in real estate I was hoping that we can get some input from more seasoned investors as to whether this investment is a good deal or not.Property Type: SFR Location: Spartanburg, SCProfile: 2Br/1Bath 864 sq ftBuilt: 1960Price: $53,000Closing Costs: $3,530 (we are paying the cc)TOTAL: $56,530Taxes : $1,400 approxInsurance: $730We are buying this from an investor and there's a tenant already in place which they are staying, this is a cash deal. 

Joshua,I would advise that you forward that letter to the Insurance Company (cc the agent).

CC costs literally a fraction of what 4 year schools cost on a per credit basis.

•Keep the debt on your CC no more than 40 percent of your CC Limit •Raise your limit to 3k to show you are a moderate risk to lend to. 5k shows you are very low risk.• "This idea might make you cringe but apply for a second credit card .

There may be more to this than meets the eye.As always, everything I say comes from my perspective as a local DIY investor specializing in C/C-class SFR and small multifamily in an urban setting.

Ya this mentor should never have taken half of your life savings .. or like others who encourage folks to go into CC debt.paid for training can be a good thing.. but bottom line is you need capital to invest in real estate .. how are you going to make that capital back.the only way would be to do transnational real estate IE become and agent and make nice big commissions but even at that you need a years worth of income stashed away..I like your other idea  buy a house to live in .. you can find almost all gurus written materials and CDs extra on E bay for 20 to 50 bucks.. from students who never used it.

Most likely at the tradeoff of C,C-,or D location, I'd assume?

Large security deposit and fully checked everyone; CC, BG, past LL and employers.

CC lenders are getting jumpy  & looking for any excuse to turn down applicants, since they can't tell if they actually still have a job.

I am OOS and it is for a rental property in a C/C+ neighborhood in the east side.