It's www.workerhomes.com and just launched last week so there isn't a whole lot of action on it and I still have some work to do on it.

The owner is trying to get $55,000 for it but the comps in the area have newly renovated duplexes for $55,000 and this property I believe- have not visited site yet, judging off of seller's descriptions- should go for somewhere around lower to mid $40k range.It would be my first property and since I'm in college having to pay $6k/semester for school, I don't have the immediate funds to which a bank would accept me today but in 6 months I most likely will.

Then you take your state exam for your license...Then you decide which broker to work under with your newly acquired license.There are no particular ethical issues with being licensed and being an investor.

Someone who bought 3 years ago could have 25 or 30% newly gained equity.....they could conceivably do the cash out refi, and use it to repeat (acquire another rental).

Anyone have any expertise on what I can expect in rent for a 3/3 1700 sq ft, newly renovated home in Springfield?

From what I have heard the mortgage companies will not be able to use my income for the next two years because I am newly self-employed.

I'm a newly graduated engineer myself.

Both of our credits are at 740, but we do have a few high balances on our credit cardsWe could pay off one of newly acquired houses with the HELOC and still have 3 months worth of reserves.I am working with a bank to find out what we qualify for with the 1031 tax exchange, and our next potential property.Working with a realtor to find my three properties for an 1031 exchangeStanding by for suggestions.Cheers,Johnny

@Jay Hinrichs @Chris Sweeney @Vivek Khoche @Trinh HuynhKeep in mind that this is a newly constructed house (its my understanding at least form the original post), not an old beaten house or a middle of the road house.  

. - so I feel I have a leg up compared to other newly licensed agents.