I think a lot of people come into the industry ill-prepared and fail at it and there is this persona of how horrible it is to own real estate. 

@Cedric Strout Thanks so much for the information ill be there for the next meeting. 

This thread speaks volumes to me...I gave myself the title of RE investor last September, not knowing what I should do next after self crowning myself.I stumbled on the idea and plan of how I would get my WA broker's license and be a rehabber that would sell my own properties, thus keeping all commissions in house.I studied for my license on line and got up to the very last exam before paaing the entire course when I met my now business partner and mentor.I do not look at my attempt at getting my license an ill- fated move at all- it actually "schooled" me in the ins and outs of basic RE knowledge.Overall, I think that reaching out to a mentor will solidify your business foundation-In other words, don't build your house of cards on a crooked table like so many other have.Much success!

10-4 MatthewGood call ill stop over today and see if I can get some info.

Neither of us want to go in this blindly or ill-prepared.  

cant figure out how to remove.... ill just hope no one cares about traveling to the frozen tundra for such small profit.

The house goes for 66,000, but they offered me to place a down payment of 1,500 and Ill pay 650 a month in rent until I'm able to secure a proper mortgage through the bank once my credit score gets a little higher ( I have a 611, need a 620 to secure a loan).  

The "Yes ill put it in and see what the bank says" phase.

Yeah, Ill probably be rethinking this through:)  Thanks for the responses and youve all made some good points,  I think Ill be keeping it simple with this one. 

Ill be starting my soon as I get my list i will be targeting absentee owners and see how it goes here in my area.