My immediate needs with BP are to learn the most effective ways to identify leads and obtain financing, along with tips and tricks on buying and managing MF property outside my local market - this is a big desire but also a big concern, not having done it before.  

If you were trying to lose weight, would you eat a whole chocolate cake in one sitting??

Now I am really hesitant to close this deal...Deal summaryLocation: Norcross, GAPurchase Price: $218kUsing conventional loan - 4.375%, 20% downpaymentmarket rent $1600-1650brand new (less than 4 years old) townhome, end unit, in a very favorable locationThis community/area has gone up $60k in the last 3 years and I thought there was some room for more growth given the market condition + desirable location. 15 year old houses are trading around the same price in the area, which gave me a little more confidence that this property could gain value in the next few years.

If towing the car doesn't prove effective, maybe you could write a clause in the lease where you go into their house after five days of non-payment and take whatever property of theirs you desire.

My journey to the world of REI began with my personal experience as a renter, HGTV, Dave Ramsey podcasts, a desire to become an agent, and now the Bigger Pockets podcast.I am most enthusiastic about building a portfolio of rental properties for financial freedom.

After a year or two, if you so desire, you can break off and go with a discount brokerage or start your own company.

Problem with that might be that your GC won't watch the prices on labor which is ridiculously high right now: these mandatory 3 estimates on big jobs might be from couple overpriced big companies and one lower from a friendly company to your GC.You first need to build relationship in the area to know what the prices are generally: labor, materials, location of the property, desired finishes.The last note: good properties go with much higher prices than min bid, because of very competitive market.If you buy a property for $100K, it will be totally different rehab cost, quality of finishes etc than a property for $500.

As with all homes, location and price range dictates demand but overall Tomball is a highly desired area with good amenities so a well-priced property will sell.  

As experienced investors, would you proceed knowing that the cash flow is there, but without the desired Cash on Cash return?  

While I was determined to return, most did not have the ability or desire to wait.