It was clear they were all forging their own path, trying to figure out best practices, and unlike a teenager they were there to express and discuss those concerns and doubts outwardly so we could all benefit from the collective successes and mistakes of the group.

This will give you some hands-on experience and an opportunity to put into practice what you have learned from reading the book.

None of the above works unless you take action and put it into practice.

My plan is to self-manage the property and rent it out by the room, and I believe your expertise could provide invaluable insights to help me navigate this venture successfully.Specifically, I'm seeking advice on the following areas:Property Management Software: I'd appreciate recommendations for property management software that would streamline my operations and help me stay organized.Bookkeeping: Could you provide guidance on best practices for bookkeeping in rental property management?

If you think about it, I would pay practically a down payment to my landlord in 3 years. (40 months x $1500 - $2000 = $60,000 - $80,000 of rent) Instead, I will put every penny leftover into my mortgage and pay below the 80% threshold, likely in 2 years, to get PMI removed.

As a practical matter, this means the buyer must wait over a year before renovating or renting the property.

As a notary or NSA, you CANNOT explain anything to them except a general description of a document or where to find things such as the rates, terms, etc because that would be considered illegally practicing law.

I would like to buy the other one for sale but the 50k down payment would not be super practical right now as I just shelled out $50k down payment for the next be I just bought.  

Practice it enough and you'll learn how to analyze property on a napkin or in your head.Remember: the math never changes.

My business partner and I are considering starting a real estate consulting practice where we would advise buyers, sellers and investors on the buying and selling process.