In my case, it was the only way to get started, doing it part time because I didn't have the funds to go all in full time for a full year.I have always been a solo agent, so I struggled the first two years to get clients, if I would have joined a team I would have had to go full time but I would have been making less than what I was making as an elementary school teacher (70k) because teams take a good chunk of your commission.

Just wanted to share, I've noticed a loosening in down payment requirements for DSCR (debt service ratio loans) that either use the actual or proposed rental income to qualify. Many lenders have investment property ex...

David, regardless of your source of funds, you will never be seen as a "private lender" you're a broker and always will be, your source of funds is not a matter to classify a loan.

I understand if funds are not available it is easy get blinded by what saves the most, but if multiple people are telling you that it is a bad idea mostly likely is because they have learned that most of the times or never, saving in the short-term doesn't payoff.

Have a planned/practiced 1-2 sentences about how you help people buy and sell real estate.Keep your expenses low, track not only what you spend (personal, and business), and track your "lead indicators"...x hours daily lead generating, # people you talked with daily about real estate, # social media posts you created about real estate topics.  

Also the plan is to use retirement funds from my 401K even after which, I should have enough left for retirement.

While there are many advantages like low property taxes, landlord friendly, strong appreciation it's not going to be as cheap as the Midwest and have the cash flow with 25% down.

I have set aside funds for a down payment.

I and other investors have bought 10+ unit building or packages that are in disrepair, run by landlords with no funds or inclination to rehab them and as a result were rented at very low rates to tenants who wouldn’t complain about all the problems.

Bathrooms, toilet rooms, and laundry rooms shall have a ceiling height of not less than 6'-8" above the finished floor"Additionally, in th following paragraph 1207.2.1; it also notes an exception for similar residential conditions which allows "Furred Ceilings" (Ductwork, Structural Beams, etc) to be permitted as low as 6'-4".In Short; the Diagram you posted indicates the correct conditions that would apply to your residential basement.