If you focus on a fixer upper you can renovate in 6 months and refinance on the ARV.You only need to be at a 85% LTV to refinance and its not hard to build 15% equity in a property in this market enviroment. 

My goal is to learn as much as I can, connect with experienced investors, and start building my portfolio.I believe wholesaling offers a great opportunity to get my foot in the door without the large upfront capital required for traditional investments.

Las Cruces is a small college town (home of the New Mexico State University Aggies) with healthy population of federal government workers and military contractors.

Thanks for all the advice, I'll definitely have to research more as I go about how to build out my portfolio and whether I want to pay down the existing loans or buy more.

We are looking for companies that OWN and are accountable for the full end-to-end process including purchasing, rehabbing/build, post-close property management.

I'm fairly handy and have good contractor connections.

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

Hi @Yents Ybrimovic - I love the FHA 203k renovation, but to be honest I love the Fannie May HomeStyle renovation loan even more.As an investor and a general contractor, I have used both products here in Chicago!

Nobody ever regretted buying a good property, but you find hundreds of stories where people deeply regret buying a cheaper property.Maybe focus more on how to make more money, build a side biz, and let the real estate do what it does get better over time.

Quote from @Dina Schmid: You can sell anything you want, but that doesn't mean it will qualify for a home loan or be accepted by a building inspector.