You'll need to determine the monthly cash flow you aim to achieve from rental properties, along with your desired timeline for getting started and the initial investment you're comfortable making.While flipping properties can yield quick returns, it's worth noting that the current market conditions may pose challenges in this area.

In FL I had a guy who confirmed my criteria and then was upset when I denied for a criminal issue in the background check...because he plead 'no contest'.

First deal does not have to be a home run, a base hit is what I've usually aimed for and thats how I got started with condos and single family homes and as those properties appreciated over time I utilized the equity to purchase multifamily properties that I could not initially afford.Cheers

But lets say the property does not appraise in 5 years for more and the initial balance is higher than the refinance loan amount, then he will need to put a downpayment to close on the refinance. 

Of course there is more people can give you and there are a number of threads on how to interview a PM but in your initial interaction I would expect those. 

So, I am completely new.  I don't really know terms or have any type of real understanding when it comes to real estate investing.  So, I am going to throw out my thinking on something to get started and wondered if s...

We did end up negotiating the price down after the initial walkthrough.  

I'm seeking guidance regarding my initial rental property, which requires significant repairs.

The good news is that once you gain some traction and close a few deals you can hire a VA to help at least make the initial calls and hand off only the sellers interested in an offer 

I offered two offers initially, a conventional mortgage offer and a seller financing offer.