It will then hit the credit agencies and be on any credit inquiry, any lender, landlords, insurance company, banks opening accounts, employers and so on, many people get tired of paying more, being disqualified and turned down and start paying.

I can't speak for your analyzer, but the numbers that you provided look pretty impressive.I'd want to factor in the title search cost and the inspection cost, making sure there is no environmental or structural problems prior to closing the deal.Also, some counties/juridictions have sewer costs separate from the water supply line.Also, will you be maintaining the property yourself, including rent collections, or employing a manager.

I can recommend a legal service plan which employs law firms as opposed to sole practitioners - this way all major areas of law are covered and provided for.

I have no relationship with my bank as I just came out of the work force to be self employed.

The fact you're self-employed will make it more difficult.

Any gain on the sale is ordinary income, subject to tax at your current marginal rate and self employment tax (SET).

I thought my background in financial analysis may enable me to seek opportunities with commercial real estate investment companies and help me to gain knowledge of that field.I am looking for advice from the forum on ideas and paths to consider as I search for my next employment opportunity.Rick Schneeberg

If not and your home purchase maxed out your DTI to qualify for a second mortgage for an investment property then you need to find a way at your job or business (self -employed) to increase your income and also cut expenses to save more money.You can also wholesale and try to build funds that way.

My number is in my signature, call anytime.To answer your question, with out money, or the access to money, you're going to have a hard time regardless.Sure, wholesaling is an option but banks in this area want very specific buyer financial info if you're going to try to flip the LLC or whichever strategy you're looking to employ.

Even if your unit is amazing quality renters might not want to be there because of the other buildings or other landlords are dropping rent fast rather than updating the buildings.Pro for bigger complexYou can scale the business effectively.You can control the whole look and feel of the development and tenant base and not be as affected by outside forces with your investment.If you by a large enough size you can employ a full time property manager and maintenance person so you can truly be hands off and passive.Cons- Harder to sell - I disagree with this as typically house investors or little duplex etc. is a different buyer base than a larger apartment building.For example I have a large buyer base of multifamily buildings because that is what I focus on.