I am looking to pick from 3 or 4 mid sized markets in order to test the waters. 

If he wants to test the process, tell him he can find himself with a judgement for rents due real quick.

Brent, my-worth-what-you-pay-for-it tactical advice would likely be similar to Thomas S. actually :  stress test the various loans under different interest rate scenarios since we have a rising rate environment.

I'm assessing a HUD property (my first investment prop) and am trying narrow my estimate on the cost of rehab on a house.I was able to pull up a PCR on the property (a brick ranch) and here are some key things:Cooling/AC - DamagedHeating/Furnace - DamagedHVAC Duct - DamagedPlumbing: - Sink: Damaged - Pressure Test: FailThe property is a 1,500 sq ft ranch home that seems like a good opportunity provided I don't overshoot the cost of these items.

Classes are a few hundred dollars, you pass those, and then take the state test.

Debt Service on the property $241,395 @ 25% ($60,348) down is $181,047 or $906/month.Cash Flow = $2,875 - $191.67 - $733.33 - $220 - $201.25 - $201.25 - $143.75 - $906 = $277.75/month...on 5 units...Because I focus on cash flow, this property doesn't initially pass my napkin test but if its under market rents, it might be worth digging into more.

I will be testing for my real estate license this month and cannot wait to get started in my career. 

If I buy a 2 unit home that is tested positive for lead and I live in one unit (with no kids) can I just de-lead the unit that I will be renting out to help reduce cost?  

The deal is not done yet as I do want to run a title search and have a perk test done.

Just to test out the new layout I tried searching for people that I know personally on BP and when they didn't show up in the first 8 pages I just had to search by their email.