That's a pretty good deal.note: sentimental valueWell, there is NO room in an investors vocabulary for "sentimental value".  

Can anyone explain to me what exactly a "note" is and how it differs from a loan? I've run across this word many times and in all my reading it's always been assumed I know what it means. (Some of us ride the short bu...

@Mike BichoI would throw the term CAP rate out of your vocabulary on a triplex.

Here are a few good links to assist you in getting started: http://www.biggerpockets.com/renewsblog/2010/10/4/commercial-real-estate-vocabulary-101-%E2%80%93-commercial-deal-analysis/http://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/Kudos,Mary

Was surreptitious part of anybody else's weekly vocabulary words?

But so many are talking about "flipping" these days and I think there is legitimate concern when an investor is using this vocabulary that even if they hold over a year there is a risk of them being perceived as dealers not holding property for productive use.As with most everything these days, due to the relatively few number of audits there isn't a great bank of case law yet on "flippers" who hold property over a year.  

@Marc Winter - That's exactly what I'm trying to do, but I'm having trouble wrapping my mind around it because the vocabulary is new to me.

A mentor who is active so you can see there projects and learn.Study, study, and more study so you can learn the vocabulary.  

Attend meetings to learn the real estate investing vocabulary, find out who is doing what in your area, who the players are, and which vendors your should use (attorneys, insurance agents, lenders, contractors, etc.).You're in college now so you understand the importance of education.

@Brandon Low Do yourself a favor and get the word "passive" out of your vocabulary.