There's a lot to learn... figuring out the best investment strategy for you, crunching numbers, picking the right property, managing a renovation, selecting tenants and self-managing, residential tenancies act issues when things don't go smoothly, etc... 

As this is my first deal and I want everything to be smooth as possible, I added an additional $50K to be safe. 

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

Hopefully things are going smoothly for you- that home had a lot of quirks.  

So, that was the skinny - now...I feel I'm on the right track for saving for a downpayment n closing costs...I have been doing my research as to which strategies I wanna approach and execute on....I guess now that things seem to be going smooth and it's just a matter of time/saving til I can get my start in REI....that...I'm worried when I actually have the money for the downpayment and I go to vet lenders, that the lenders are going to deny me due to the industry that I legally make my living in.

A smooth transition plan is the most important piece of putting a new manager in place with new tenants.

Caulk in between the two strips and smooth it.

So far, things are going smoothly.