Each individual deal does impact the rest though, so when you have a loser of a deal, get rid of it (them),  Which leads to #2,,,2 - REI is a lot like playing Poker. 

LTV - I’m indifferent on having equity, however, if I would of originated the note I would of looked to have at least a few thousand dollars as a DP for the homeowner to have some skin in the gameRate - 8 - 12%Term - Longer than 15 years and at time of acquisition no more than half of the way throughAs-is Value - greater than 50kMortgage PMT - greater than $400/monthLocation - In a populated city of 20,000 people or greater along with strong economics. 

If I'm playing poker, I understand that 3 of a kind is better than a pair, because it's a lot more likely to get 2 cards that match than 3.

This one was like entering a Poker Tournament.

Like poker, you have to make a decision even though you have incomplete information.

. ;-) This game really is not that complicated.

I played online poker for a living for the last 5-6 years and have about $100k I could tap into (its not very liquid, i'd have to sell my property overseas) if I see potential in this for me.I'm most likely going to be a mature student pursuing an engineering degree, thus no real income...and to boot I don't have any credit history due to never having anything on my name even after being naturalized.I'm not expecting to jump into REI right away and having banks approve me for a loan with no experience, credit or income lol but i'd appreciate any thought on my best way of getting there.My current plans are to read as much as I can on this forum while getting myself an entry level credit card to build my credit score.

I feel like I'm witness to a home poker game that's getting a little heated!

In my experience, "secrets" are just obvious investing strategies that smart people have already (or will) figure out, and less intelligent and less motivated people will never figure out.And you can tell a less-intelligent and/or less motivated person anything (including all your "secrets), but they are unlikely to implement them due to their lack of intellect and/or motivation.As another example, I used to play poker professionally, and after some big tournament successes, I got asked all the time by newer players if I would mentor them.

Used to play professionally before I moved to a place where there is no legal gambling...still travel a couple times a year to the big tournaments...In addition to the Harrington tournament series, I highly recommend the Full Tilt Poker Strategy Guide for Tournaments...