Since your in New Mexico, what's the architectural style and approximate age of the house?

We first reached out to originators for Freddie and Fannie and were told that the deal looked great and we should be able to get the following terms:-Non recourse loan, 80% ltv-30 year amortization-10 year fixed rate-4.25-4.5% interest rate-Interest only payments for the first two yearsFreddie has since come back and passed on the deal due to our market being too small and the age of the property (1984).

I cant predict the future, but I can always try to make the future something.You could just compromise and just dabble in a property or two each year starting at age 21, and do it as a more full-time thing when youre 28 or something.

@Bryan Tasumi If you are moving to Tejas from CA then I would suggest investing in a place for you to reside whilst studying in Houston.

We inherited a tenant who is month to month, but actually has 4 people in their unit as well (Mom and 3 Junior High/High School age kids).  

Age and condition?

@Austin Youmans Market 1So one of the RE markets is my hometown which I haven't been to in ages.

Those other things: beds/baths, sq ft, age, etc. all matter much more.  

Learning is always helpful in life,  such a young age you are taking step for financial freedom.  

My name is Jarrett Winston and this is a quick overview of how Biggerpockets helped me land 100k in equity on my first deal at age 21.