I also "claimed" $11K in itemized expenses for 2013 which got me with a healthy tax return.

Fourth, I learned a ton about different strategies.I bought my first property almost a year after and when I sell next spring, I expect to make my $15k back in addition to a healthy return. 

No high-pressure tactics (aside from a healthy email stream and your typical guru, if there) - do what works for you.3) Addison - "Roddy Roundup" http://www.meetup.com/RoddyRoundUpDFW/Founded by George Roddy, his club meets monthly and offers good introductory training and since he attracts mostly noobs, its often basic training.

If you need an appraiser I know a great one who has been on the ground for years, Gizzi AppraisalsI live out of state, in fact out of country, but now embarking myself on my Cape Coral adventure.I have a healthy cash flow portfolio in Sarasota, but can't find the deals anymore so have headed south and buying lots and starting a build program .I come out with between 40-50 per door net if I sell them straight away, but looking to cash flow as well, some great things happening in Lee County and they encourage inward investment.What I love about new build is the hope that nothing goes wrong for at least a couple of years, and insurance is lower as built to new codes and elevation for floodGood Luck, Lehigh is interesting have been thinking about land banking there but the deals are so good in prime CC it doesn't make sense right now for me personally.Would love to know how you get on with your 4 plexKeep in touch, this is such a great place to exchange ideas.SarahW

Keeping in mind this is a long term buy-and-hold propertyI don't see how the seller's health is an issue.  

However, I think you may be able to make a small profit if you don't have to hold it for too long (note that in Lake Mary, the stats show that the DOM has gradually increased over the last 3 months and with summer coming to an end, it may slow further - still healthy selling though) and get most of the work done by yourself.  

And yes there would be a signed contract that generally includes a healthy deposit and loss of it, if the contract is not completed due to backing out of the deal.

Basically, account for EVERYTHING that's going to take money out of your pocket and make sure you save some healthy reserves for any unexpected items that may pop up in the future. 

And you should be cash flowing a little bit here in the Wichita market...We have a pretty healthy rental market here.

There are plenty of pockets in DC where you can find good valued properties that will also drive healthy rents in the multifamily space.Another way to "house hack" in the district if the multifamily space is to expensive for you is to purchase a single family house or condo with multiple bedrooms and rent out the rooms to friends/like minded individuals that you wouldn't mind living with.