Which will create roughly 20-40k in instant equity.The tenants pay all utilities and the expenses come to around 1180$ a close estimate and might be less.The tenants will be paying 900 in rent and I will be covering the difference for property tax and what not.I plan on residing there while completing school than moving out at which it will than bring in 1800 which is about 300$ per unit for cashflow.Does this sound like a good deal for getting started?

I'm a little lenient on it depending on other factors like if I'm paying top dollar or if I'm buying some instant equity. 

If you can find a property that needs some renovations (nothing major for your first one), that you can force some instant appreciation and get rented, this will be a good start. 

You'll get paid Instantly when Your Investor closes.

Brand new to REI and looking to build an REI network in the greater Tucson, AZ area before playing first hand.....have liquid and lines available.About us:My wife and I bought our 1st house as a short sale resulting in instant equity......then the wheels started turning…..Before dumping all of our investment capital into a $75K guru bootcamp (but after their $2K pitch), we began listening to the BP podcasts and have decided to enter the realm of real estate investing in July of this year and are slated for our AZDRE Sales Licenses by the end of Sept 2015.Wife's focus: learning local market through brokerage for commissions.My focus: identifying and executing investments for Fix & Flip and Buy & Hold (renting).More about us:Although, considered by myself, relatively young at 34, I’ve been a conceptual chef and foodservice manager for 15 years currently owning one concept outright, a percentage ownership in a foodservice retail company and a GM at a thriving restaurant in an esteemed area of Tucson.My gorgeous wife, of a few years younger than I (she wouldn’t be too happy if disclosed her exact age), has been in the service industries as a hair stylist and bartender for her entire professional career.

For lower end units or smaller houses, I'd also know that walking distance to the carrot plant would rent instantly vs houses or apartments further away.

All of our offers have been written up instantly once we had made the decision.

At the price I am selling it for, you will go into the property with 40k instant equity.

For a buy and hold investor, I think it is very important to understand on Day 1 after the reno whether you will have instant equity, a property at FMV, or an over improved property.

I instantly called on this property!