Hey all, I am new to the game and to the forum. 

Once I've got all of that cleaned up, I'll be able to see what I can scrape together for skin in the game and look for a brrrr buy and hold.

What it said in that book really made sense to me but at the time I thought there was no way I could do anything about it to start changing my financial life while I was in college so I put it aside amid 22+ credit semesters of college and working part-time jobs, while also always being rehearsal for a play or musical as a theater major.

I'm writing this in Starbucks and they're already playing Christmas music.

Whether I purchase it cash or with conventional financing, the banks only want to lend/refinance up to a specific LTV (usually 70-75%) on the purchase price EVEN if I buy the property at a significant discount (e.g. 50% of its current market value).In the past I've always struggled with this same issue, and thus eventually I end up tying all my capital in properties and I'm unable to purchase more (even hard money lenders want you to put some skin in the game).

Using the above example, let's say you decide to play it safe and just set your budget at $40k instead of $25K.

You're out whatever money you've wired him and whatever fees your bank charges you.If you want to play along (google scam baiters or look at 419eaters.com), have him send the check.  

Play the long game

I tried to explain to him that it is just a numbers game to me, and that I am not looking to be a "Shark"; He told me that some investors do it, and end up with bad reputations for doing so.

My game plan is similar.