Clearly, it demonstrates your ability to initially transform a bad situation and coupled with that you showed your tenacity, decisiveness, ability to execute an action plan and being sequentially rewarded along the way with higher sales prices.

Initial purchase-72kRehab-13kPayment 405-loan 35$ insurance 100-taxes 30 trash..total payment 570Rent 1200-570=630*.6=378/month for meSecond House is same just for sake of saving time.My question is that is has been a few months and I have not drawn out a dime from account.

And will it matter, if the current Loan / purchase on the property was done using a FHA loan ... when I initially purchased the property ?

The bulk plane, allowable square footage, and massing is a bit tricky and very site specific, so we always do an initial Feasibility Study with each client to cover this and the questions above before getting into design on these. 

You already have some tools in your toolbox....no pun intended.Now, you simply have to work on the other elements to progress your REI pursuit.Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/invitesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

~$20k for the initial purchase.

Ok, now that you have taken your initial step, below are some quick links to get engaged.Since you expressed an interest in buy and hold, I added two guides below on this subject, as you wait to be locally connected.http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property) http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/inviteshttps://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI 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.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

Initially I began my investing career looking into fix and flips, then shifted my attention to the Notes side of the business.

Initially I began my investing career looking into fix and flips, then shifted my attention to the Notes side of the business.

Initially, we walk the site and talk to them what they want done, a simple bid right?