My advice, just because you have a little money doesn't make you a player in Real Estate, there are people that know what I know that would clean your clock!

I leave RI to those in RI, there is definitely opportunity, but you need to KNOW THE NEIGHBORHOODS and the players and the laws.

Also watch and see where the big players are going.

either in Rehab Costs/Comps/Profit, ROI, Cash FlowI have a short period of time to move a house and it is hard to know who the real players that will execute unless you have a strong solid buyers list.

Recommendation: shop around with local banks and credit unions and some other regional players. 

http://cosmos.bcst.yahoo.com/up/player/popup/?

However, in this case, you have stummbled across a "real player" in Nick.

Learn the lay of the land, the players (banks, CPA's, contractors, other investors) and network like crazy.I would stay away from gurus and "mentoring programs" The knowledge and info you can learn on biggerpockets in just a matter of a couple weeks far outweights anything you will be able to learn in a program ...

@Curt Davis  Curt not to disagree with you but some very large companies (HIGH VOLUME PLAYERS) did rental guarantee's  I bought paper from 2 of them and one is in massive trouble.. and the other is just hanging in there...

You may also be requires to undertake an environmental assessment of the property by the lender (to prove there are no old USTs or other surprises waiting to ruin your, or rather, the lender's day).Where you can often successfully purchase a residential property without using a buyers agent, an experienced commercial broker will be an invaluable player on your team during the purchase of your first few multifamily properties.Enough rambling ... and I did not even get through the purchase processes ... must take the boy to daycare.