I too am new here although not the youngster Bill apparently is and I too did a stint at Boston University although the result was not quite so stellar but that was over three decades ago and I've learned a lot since then.I am thrilled to have found this forum as I begin to develop my Investor muscle.

Keeping a couple of car payments and some credit card debut and rushing into real estate might not seem like such a great idea in a few years when there is a recession, one of you gets laid off, and your tenant moves out (think 2008,9,10).Here are some things my wife and I did that you might find helpful.1)  Pay off credit card debt, it's a killer.  

I have less that stellar credit, so no bank.

The other concern we have is that the credit rating in these small towns is usually less than stellar. 

If this was just a rate and term refinance then sure you could get lower assuming you had stellar credit but I’m not seeing this as being a bad deal as others are stating.

., and (3.) choose to rent quickly to the first person with $$$, rather than take their time to select the most qualified candidate even if it means having a lengthy vacancy.If you choose to self manage, you will need to know the landlord tenant laws in whatever jurisdiction you choose to invest, and have the backbone for this; otherwise, research and hire a top-notch management company to do this for you.I personally choose to self manage (small portfolio) and keep a stellar eviction attorney on retainer for all the reasons @Greg Scott mentioned.Good luck!

I see you've already received some stellar advice! 

I'm curious - besides the obvious (licensed, bonded, insured, reliable), what in your opinion, as a flip or buy and hold investor, makes a stellar contractor or construction firm?

Unfortunately my time with my coach has (up-to-now) has been less than stellar.

They looked like stellar deals on paper and we thought we did our due diligence.