Even before crunching the numbers, I strongly recommend against this.Virtually all mortgages have a clause which states the mortgage will come due if the property changes ownership.

In the hopes of building a strong support team, I've been networking with some RE agents and attorneys to learn more about the business and receive as much advice as I can!

It's in a quiet area with good police presence.

If so, you could think about Hard Money Loans, but just make sure you really have a strong grasp on the After Repair Value (see my article How NOT to Flip a House: An Embarrassing Story of Wasted Time, Money, and Opportunity) If you plan on holding this - hard money isn't going to work.

The rep I worked with was very competent and professional and really knew his stuff, especially with regard to how to build and maintain a strong personal credit score.?

His credit is not strong enough to get a loan, however my credit is.

Also, notify your tenants that you strongly recommend they purchase a renter's policy or their stuff will not be covered.

My desire to invest in real estate is as strong as ever but I don't think it would be responsible to do a traditional buy and hold from out of state as my first investment project (and I don't have the down payment that would be required).

My desire to invest in real estate is as strong as ever but I don't think it would be responsible to do a traditional buy and hold from out of state as my first investment project (and I don't have the down payment that would be required).

I am not formally educated, but I have a strong passion for learning nonetheless.