You need to be consistently taking massive action everyday. 

I went into it knowing there was sweat equity and i was ready to exploit it.The thing about Real Estate is most people aren't hitting home runs by waiting for the perfect pitch and then swinging for the fences...they are hitting home runs by taking what the pitcher gives them and then consistently hitting singles/doubles and then occasionally they hit one out of the park (as is this example)***Anyways,We noticed this was a very large 2 bedroom home in a nice location.

I'm being told consistently to wait until the market drops by family and friends. 

For example you could be happy with $0.00 to $100 per door in a neighborhood that boasts consistent appreciation but you would be quickly defeated with that same $100/door strategy in a neighborhood where your tenant is just one flat tire away from not paying rent.

I've found I can consistently buy ~$30k properties, rehab for $10k and rent $600-$700.

putting in a similar effort with great work ethic like mine and just churn deals out left and right consistently.

Next up is staying consistent with marketing with my initial goal of 50 yard signs per week. 

On page 3 of http://www.irs.gov/pub/irs-pdf/i1099ac.pdf it looks like the "Who Must File" consists of financial institutions and lenders.

Conventional wisdom and consistent a couple of court findings are that anything more than a year is probably OK.  

Having a consistent banking partner I believe it's crucial to any successful real estate investors that you have excellent partners, that includes banks,architects, attorneys, mortgage brokers and contractors etc.