The above two are the critical 2 questions when starting.

Yes, the financial data is mission critical and must be secure, auditable, and accurate, but the non-financial data is more important to daily operations.

Do your own critical appraisal of the house, starting with the drive down the street.

On the down side when he calls at 9:00PM to tell you the dishwasher quit he doesn't want to hear about labor pains, he just wants to "see the baby".The $700/month tenants wil occassionally be late, they will always say "I was just getting ready to call you" when you call them, their checks might occassionally bounce but they'll likely be flexibel (up to a few days) on most "non critical" repairs.

Knowing when this is will give you an edge as to when it is critical for the banks to get rid of it.

When I finally had mine I just smiled and left without criticism.

It is critical to set a cash flow (profit) target per unit unless you want to have a huge number of units.

Really pay attention to the number formulas that Mike, John and others explain over and over here, It is Critical!

Of course, these payments are devoted entirely to principal, and therefore provide no tax deduction.Nick’s decision to send extra payments to his lender is a critical point.

I have a regular job with an annual income of ~60K and a credit score of 740 albeit of limited duration.My plan is to use the VA to finance, perhaps a duplex that will allow me to get my foot in the door to generate capital that will allow me to do it again, twice or thrice in a year or 2, until I have the capability to pay cash for distressed property.I have d/l'ed all the BP podcasts , purchased the " Book of estimating rehab costs & Book on flipping houses & Inspecting a house by Rex Cauadwell " per suggestions here.By this time next year I would like to be living the above plan and be well on my way to my 2nd property purchase.All comments or criticisms are welcome.