You can find us online.Current Ideas: Video Series on Passive Investing in MHC, Tax Benefits of MHC, Investing through 401k etc. 

I guess that's part of my question, if you could have the security deposit cover that and people's experiences so I could better prepare myself. 

It probably be best as a friends-and-family type loan, but I don’t have anyone around me that is an appropriate lender.If I have to, I can put the funds in myself, but its inconvenient, and would come from investments that would need to be sold, taxed, etc.

You can find the most recent sales price for the property on the local tax records website or by doing a quick search on Zillow.

What an investor gives up though is tax bene's and the chance ( well at least proforma wise) that you bought at X cap rate and can sell at Y cap rate and there is a big profit that is added on to your returns. 

This type of investment can also offer great tax deduction, depending on your situation.Best of luck on your first deal, feel free to connect with more questions.

One thing to add is that when you buy a new build, your PITI will likely not be factoring in the correct state tax number.

Monthly pre-tax income for household (minimum $5000)7.)

Assuming the liens were the mortgage, taxes, hoa etc and totaled less than the purchase price.

Also what does the city say is the assessed value of the property on your taxes (it will be different than the appraised value, but should give you an idea).