@Ashish Acharya - That's a doozy of a statement to say that that taxpayer could have used section 195 to capitalize those education expenses as start up costs, even acknowledging it's a risky position.  

That requires unbiased self reflection to acknowledge your thinking may be "off the tracks."

I will acknowledge I am a bit of a novice but it sounds exciting to me.

The reason to vote is to acknowledge the quality of response from your peers.

If you are nice they will remember starting out and will want to help and will be candid about the price etc.If the price is too high and you made the mistake simply acknowledge that with the seller and apologize and ask for a price change.The outside appeal of the property is number one when putting out for listing syndication.Do not use a used listing sign as they fade over time.Buyers might think it's been on the market a long time.Instead have a brand new listing sign that pop with fresh color and add your star burst with the selling features on each side that ERA provides.Even if there is no activity on the listing do not get scared.Many times agents don't communicate with sellers for fear of hostility or rejection.Meanwhile the seller is pulling there hair out feeling helpless.Instead call them immediately and talk about the next step in your plan of action as a team to get the property sold.You might have to meet with them a few times but they will come around eventually after their emotions settle down.The property could look awesome on the inside but a dump for curb appeal.The outside needs to invite them in to stand a chance.You need to know if your current market is flat,declining,improving and by what percentage each month.You need to know average days on the market.You need to know any foreclosure notices coming up for the area.You can express to the seller that if these properties foreclose or get listed as a short sale it could impact selling prices and appraisals for the buyer.So "time is of the essence to get this property sold" so we need a reduction.WHY is the seller selling?

(Hope she doesn't see this)I have a strategic map of where I want to get to, but I felt a lack of the human capital with my circle of associates because they continued to feed off of my education/mistakes but never offered anything in return so I acknowledged that I needed a paradigm shift and I have been looking for like minded individuals since that epiphany.

They think it's as cut and dry as buying a property and letting someone stay there for X amount per month.Once you start delving into the nuances, you realize there are a whole bunch of laws you have to follow, a whole lot of ethical guidelines you must acknowledge, and a whole lot of work you have to put in before you can get to that point where you're bringing in the cash.But I also mention that there comes a point where you can only educate yourself but so much before you bog yourself down with facts and knowledge, but nothing to which to apply it.

Is it true that banks want two years of rental experience in order for them to acknowledge the rental income that I'd have coming in from the first home?

While these policies are good political theater, most reasonable people acknowledge they are not beneficial to tenants or landlords in the long term.While these regulations present additional risk that need to be accounted for when conducting your due diligence, to me the fundamentals of investing real estate continue to look good long term. 

Although my market isn't the hottest, it is decently competitive, so it can seem really intimidating at times.I believe your first big step is to acknowledge you are doing something great by showing interest in REI.