I didn't use any partners - wanted to my first deal on my own before anyone else's money was in play, but to each their own. 

thanks man and yes that's why I would like to see outside my are because I live in a good market but I think that a lot of investor and home owner are playing too much with the prices and the other reason is to expand my range of action 

So while the "whichever lower" rule is annoying and confusing all you have to do is follow section 3 and that rule won't even come into play. 

If anybody would like to give me a new route, New suggestions, New ideals any mentors that would like to help me connect the dots in the Atlanta area feel free to comment... 

Ideally, as you progress as an investor, you will qualify based on your tax returns.

Where it might come into play is if there is a big jump in pay, or a long unemployment gap, then they might ask for additional clarification.

@Jeremy Zwicker: I like the Antigonish market as well , most are certainly cashflow plays as there is little to no appreciation there, however, if the property is well situated and you provide a nice living space, you will have very low vacancy due to the high demand for off campus student housing and rents are comparable to the HRM.

In the meantime my court date is in a week and we will see how things play out. 

I can play golf year around.

Ideally there would be a way to work some cash flow into this deal to offset loans or ultimately provide an additional source of income for them in their retirement.Having poked around on BP for a while and listened to copious podcasts, I have come up with a rough strategy:Get home equity loan on existing property for around $300-$400KUse loan money for 20% down payment on two properties: one SFR for them somewhere cheaper in the SGV like Rosemead or El Monte, and one multifamily for us to house-hack within 30 minutes or so of downtown (El Sereno, Highland Park, USC area, Inglewood?)