Excellent advise as always @Will Barnard !

We probably could of gotten the house closer to 90K but inventory in our area was disappearing and we were motivated because THERE IS A DEAL, we need a place to live NOW, ( living with parents ) and the location is excellent.

Mine is maxed out right now on a property that I paid cash for and am rehabbing, but I'll be able to refinance that property soon and pay off the heloc.Also, (at least around here) the credit unions are offering excellent terms and high LTVs on home equity lines -- definitely lbetter deals than you'd get for a new investor mortgage

Art Allen I totally agree, and I love downtown Raleigh and the up and coming surrounding areas.  

This is excellent Jordan Thibodeau you'd be shocked.

Not all homes offer Value-Based Bids, but those that do are excellent investment opportunities.

This ROI is higher than you income producing assets ROI.There is an Excel formula you can use to change two of the three variables to see how your AAP plan will work. 

Chicago has neighborhoods full of condos where very few people (if any) over 40 live.The "popular" places in Chicago are excellent for young professionals until they have kids, then it becomes tougher to justify staying there and most move to the suburbs or a quitter area of the city/

Here's the link to the excellent post @Kevin Keene  was referring to:http://www.biggerpockets.com/forums/48/topics/7799...

It costs $100 to join for the year and they will try to up sell you on investor education at their meetings, however the forum is excellent.