Students learn financial analysis (maybe in college) and learn by looking at some small business making 2,5 million annually, then they take the same approach to their business of 2.5 thousand annually or 25 thousand, when you bring back the deviations to the present value it might amount to dinner out!

Lindahl has owned many thousands of units himself...and I believe he still does.  

They will ruin those beautiful wood floors. 

I'm so thankful to have found a site like BiggerPockets where I can begin to learn at my own pace without having to drop thousands of dollars into a program that I don't know anything about.I originally started cherry-picking episodes of the podcast with titles that interested me and avoiding the ones that seemed intimidating (syndicating, hard-money lending, etc.).

There's a saying I remember that goes if you want to ruin Christmas let a family member borrow money in June.If you have to borrow money from friends or family make sure you both agree that it's just business and have an agreement for what you will do if the money doesn't come back the way you planned or doesn't come back at all.That way everyone can prepare themselves for the worse and there's less likely to be hard feelings because it was already planned for if things went sideways.That's my thoughts, I hope it helps and good luck!

But here are the basic numbers compared to last year where banks and big funds had thousands of accounts to bid.

I want to start bird-dogging or wholesaling since it's the "easist" (read cheapest and least likely to ruin you) to start out doing.

I am no expert on the subject, just making note of it for you.From what I understand, one of the rules is that the note must be fully amortized.If you don't already have these easy format purchase agreements you spoke of, it is likely that another investor in your area does, so I would start there, however, the contract is only as good as the verbiage in it, and with lack of experience, you may not have items in there you would likely want, hence, the attorney route.If you plan to make thousands of dollars flipping deals where the acquisition was with owner carried notes, why not spend the money on the attorney?

BP has the firepower to educate you with the folks here and that will be cheaper than paying for a course that costs thousands and apparently the right teacher never calls you.

I had a 70 year old guy and his wife lie to me, let me spend money on due diligience, several thousand, and then try to weasel out of the deal.I have had peers lie to me in front of their parents and family - right in front of family.I could give you a ton of stories - the reality is that there is no more shame in this world.Be Firm, Fair, Friendly in all dealings and do it all in writing.