A follow up question I now have would be do you think its smarter to completely pay off the first property before buying a new property or to keep going out and buying new properties once i have enough saved up for the down payment along with extra fees?

People come here, buy, move away and try to keep the house as a rental.

If I keep it and rent it out, I will have around $70K in equity @Guillermo Perez   Just curious on why 70% instead of 75% loan to value? 

The only thing I would advise is to keep a close eye on the HOA fees, as that's where the cash flow can get squeezed.

But keep in mind that there might be some delays in getting payments started, particularly in the first month or two as inspections are completed and paperwork is processed.

Realistically, one checking account and an accounting system will meet all your needs and keep your business better organized than 7+ bank accounts.If you want to collect bank interest from excess cash, add a savings account.

Then definitely keep reading for explanations.Should you even bother?

So grateful you introduced yourself.. what's the one burning question about investing that keeps you up at night?

That also means you have to keep buying real estate, so you have more next year.

I don't know what I'd do if I didn't have a place to help me keep my knowledge in check. :)