I've joined BiggerPockets to expand my knowledge and pursue my interest in becoming a real estate investor.

However, I have already found an opportunity I feel I can not pass up, even with as little knowledge and experience I have, and am looking for any and all advice and thoughts on my first move into real estate.A life long best friend of mine has been offered by a family member for $20,000 to own outright a 3.5 acre lot with a run down mobile home on it.

Feel free to share your experiences and insights as I am eager to hear from those actively involved in the market.  

Best part is that they would have VA's with different experiences and budget based off how long the VA has been doing property management.Feel free to DM me if you need any help or if you have plans on scaling using VA's.

@Justin Chan, You might be eligible for a partial tax free exclusion if you had to move out of the house for medical or job related reasons. 

If you don't have a ton of market specific knowledge it's going to take you a ton of time and it's highly likely you'll never find a true deal.Understand that wholesalers are simply trying to make a sale.

Quote from @Ana Lidia Standing: Your equity is not a savings account from which you can withdraw for free.

The options were a higher LTV conventional mortgage or a 35% cash out refinance on a free and clear SFR and a 50% LTV conventional first mortgage on the condo purchase.

The one I just sold was grandfathered into free super charging so I never paid when I went over land out of state etc.I need the 4 runner for fishing trips back into the boonies.PS I was going to buy a cybertruck but I needed it in Dec for the write off I did not get an opportunity to buy it till feb. 

I am interested in growing my knowledge and real estate portfolio.