I'm placing my first phone call to a motivated seller today just from the encouragement well received from my peers.

Make A Plan2.Know The Market3.Be Honest4.Develop A Niche5.Encourage Referrals6.Stay Educated7.Understand The Risks8.Invest In An Accountant9.Find Help10.Build A Network

If you only plan on owning just a few properties and don't need to free up cash for more down payments, go with the 15 yr.Every time a friend of mine buys a house (primary residence) I encourage them to get the 15 yr loan.

Thanks for all your encouragement everyone!

Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessREI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.http://www.realestate.com/advice/buying-your-first-investment-property/ However, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessREI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.http://www.realestate.com/advice/buying-your-first-investment-property/ However, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

However, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

@Bill Neves - Your input is very encouraging and very informative.

With that said I would also encourage you to seek as much of a refund you can as possible.

However,  as you are aware, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.