Do you have cash to make repairs?

All strategies start with buying 1 property and adding $10k cash every year. 

I'm sure you will need tools to find deals (eg price/sqft etc), estimate rents, calculate cash-on-cash returns, cap rate etc.

So if you can do just a few deals a year you can be making some extra money, learning, and establishing yourself so that eventually you can easily transition into being full time.

I think I can buy it at a great price to make my margins work.I have never used hard money, but this deal requires more cash than I would like to tie down (2mil).

It's hard to find a cash flowing rental in this area, but paying all cash certainly helps!

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

However, if you plan on living in your existing house and when you convert the basement you can rent out for an additional $1,500 then your cash on cash return of your $50,0000 would be 36% (18,000/50,000), which is a great ROI.

What your describing is built into the YSP, not extra points out of your pocket.