Newbie finds out another investor(s) have made offers. 8.

For me, the 3/2's have been a significantly profitable niche that I don't care to stray out of.

@Tom S. have you ever looked into the difference between an LLC and a Delaware Statutory Trust?

Then finding out the hole is still not wide enough and having to shave off another inch of rocklike clay so the pole will fit in. 

That's only the P&I part of the payment, taxes and insurance are in expenses.If you're self managing you can earn the PM's cut, which is roughly a third of the 50% that goes to expenses, capital and vacancy.The danger with slicing this onion too thin is that you're tempted to shave a little off here and a little off there and you end up at an unrealistically optimistic evaluation. 

In my markets, there are more tenants then rentals so we can pick the cream of the crop (over 15 applications in 4 hours from a sign in the yard, had three approved tenants from that batch, picked the best one).As time goes on, your screening process will develop, the markers in your application will throw up flags for you.  

Do a title search on the address(es) to find out what type of deed the owner(s) have. 

> should I look online (zillow for example) & then go through just the listing agent (in hopes of shaving off the full 6% commish) when I find a property that I am interested in?

I ask them if they would like to shave off X dollars and refinance on better terms, the answer is mostly, like always, yes.I pre qualify on the phone, I explain they will need to make application, ask about any credit issues and make an appointment to see the property or send someone to look.

So I would shave off 40-50k and if the deal could work at those numbers then I would do it.