Like a dog chasing it's tail.

@David Lecko I like this and with it being my first this would give me some time to assess the property for damages put together a report and submit to a private money lender without the pressure of the market up my tail😊

The property will not be cash flow positive, and we will have busted our tails, only to end up spending more money each month just to keep afloat.The fact that the guys are ok with losing money the first few years is preposterous to me. 

You can also look inside the panel (or have someone qualified do that) and see if there are any Al wires.You can look at the other end (fixtures, switches, outlets) but this may not tell you as it was/is common practice to pig-tail copper onto Al to allow Cu fixtures and switches to be used (they are far cheaper).  

I'm guessing however, that lower income properties get a lot of service calls and generate a lot of unprofitable "tail chasing".

I find deals and flip them, I find deals and rent them and I find deals and whole-tail them on the MLS.I suggest you do your research, save some money and do things the right way.

After a year of working our tails off to get in position to invest, we finally purchased our first property.

Even if that thread now gets some positive responses the near total lack of response to this point gives a Loud and Clear message.Please understand I'm a great admirer of @Joshua Dorkin for starting this site and working his tail off for years to keep it going.  

Occasionally a deal gets listed right away - around here that typically only happens if a residential realtor catches a tiger by the tail and has neither the experience or the contacts/clients to sell the property out of pocket.I also highly recommend Ken McElroy's book ABCs of Real Estate Investing.

I am at the tail end of my first rehab.