Real estate investing has always been a pivotal component of my long-term career plan, and I'm finally ready to take the plunge into my first deal.My goal is to have deal #1 in the books by the time I graduate in May.Thanks to everyone for sharing your stories, lessons, and experiences over the years.

The cash flow analysis is the easy part - the operations are pretty straightforward as well - but you've got to get a good grip on the components.

The bank usually has their own internal controls for approval.Are we talking a credit union or a local, regional, or national bank, or a private source??

Giving away your internal guidelines increases risks for discrimination claims, if they believe they meet all the check marks and you don't, what is the basis for the rejection if they are a minority?

@CL Tumlin ,Depreciation as @Dave T said will be prorated for the number of days in the year.Unless you initially segregated out the costs upon purchase between the individual components of the home you will continue to depreciate it over 27.5 years.

Which I'm pretty sure they will barring any major national/international catastrophes.

The other glaring omission in my opinion in the initial list is international real estate.

My HOA management company (tower management, aka: space coast management, lighthouse properties international llc, lighthouse properties management south florida, lighthouse properties management group,) has been a nightmare, since they were hired in 09.

Doing that you will have to give up some of the deal.Why don't you just go for an existing property with a value add component or something fully performing.

My guess is the lender's all have internal policies regarding max. cost of commission they are willing to pay.