Buy strategically, and if you do it right you may be able to get that 2nd one quicker than you originally thought and sit in a better position than you do as of today.

Understand Replacement cost versus original building costs. 

My original plan was to buy 15-20 properties with REI if things went well. 

Of course unless your buying defaulted notes at the get go then again as Chris mentioned this type of fee should be handled up front.. and if it new origination your making and then they go bad.. in your foreclosures you can charge the borrower these fee's when they cure or add it to you opening bid and when someone buys it at the court house you get repaid..

780 or higher should get you the best rates/terms available, no difference than 820 score.

Wife and I both have an 800 credit score and plenty of income with a 19% DTI ratio. 2) Do you recommend that as a first timer I actually do go with a higher down payment product as I learn?

These are also the banks that are more commonly relationship lenders and will allow your originations to out pace your balance sheet if you are consistently able to execute on the projects they fund for you.

A lot of original details still remain but looking forward to uncovering some goodies.

Originally posted by @Samuel Dunlap:Hello BP Community,Unless I am mistaken, Maricopa County (Phoenix, AZ) does not post their probate court records online, unless you can provide specific names or case numbers.

I've got a property under contractPurchase price $78K out the door (I have cash to close) Intent: build on the property which already has a functioning well, septic, and needs PGE installed Total buildout on the property utilities: $128K including the original land purchase price.