If you are looking for get rich quick, you will be disappointed.

I have been listening to Podcasts, reading Rich Dad Poor Dad (since every podcasts recommends it), and looking at listing on the various Real Estate sights.  

Getting your real estate license is a good idea, so that you can access the MLS and get paid as an agent if that's what you want to do, I know several realtors who do both traditional real estate and wholesaling in Ohio.Best of luck,Aaron

If you need a "traditional real estate" helping hand, we are just south of you and just opened an office in your back yard in Belleview.We are "investor friendly", in fact, all of us here are also investors and we work with investors across Florida helping them acquire HUD properties as we are an authorized HUD Brokerage.Congratulations...John Rogers

I don't qualify for both mortgages so the traditional thing to do would be to offer to buy this new one with the contingency that I need to sell my old home first.

@Ching Yang, If you reword everything in terms of "act of service", you will be looked upon differently.Wholesalers enable quicker access to capital through a network of buyers to motivated sellers, without having to fix up the houses, that traditional MLS or retail buyers cannot provide.

I would like to see if I can get it for 5k down but I am stuck about approaching him on a 5-7 year balloon/ 30 yr. amortization and refinancing the property in 5 years traditionally or seeing if he will do no balloon with a 30 yr. amortization.

Besides, most foreclosures won't qualify for traditional bank financing anyway.

Getting started at 25 will pay rich dividends over the long haul, wherever you invest (for the most part).For something a little closer to home, how about McMinnville or Salem?

Then once the property is stabilized with new rent roll you can move towards refinancing into traditional options.