You'd be surprised @Damon Armstrong at just how open the seasoned investors are when you show up as the new face at the auction.

Maybe..make sure you have sufficient reserves to cover unexpected expenses..Find ways to get the most rent.(.$750)....What's included in the property across the street to pull the higher rent?

We've built in a solid contingency line for the unexpected or cost overruns.

Well, Darren, in your 34 total posts as of my post you've managed to alienate several more experienced posters and even threatened another.Free Online discussion forums like BP, are great for getting feedback from seasoned investors and sometimes both detailed advise and unexpected perspectives.

I work with their commercial division on 2+ units but they were most willing to work with me on the commercial side so I wouldn't be surprised if they were doing portfolio loans

@Bryan Hancock Surprisingly, there's quite a few on BP that vote Democrat!

I doubt you'll find people willing to keep a lot of $ in an escrow account under your control, but I think it's reasonable to talk with clients about their reserves so you don't get unpleasant surprises later.My current PM doesn't have me keep any reserves with him, expenses are taken out of the monthly cashflow and my account is "zeroed out" at the end of each month.

After listening to a lot of the podcasts on BP I was surprised at how many people consistently find good deals on the MLS.I am about to start the process of finding my first fix and sell property in SI, if you don't mind me asking when you say 0% apr promo offers is that using a credit card or is there a lender in the area that will loan on rehab type properties?

The product is similar every time you are selling so less hidden surprises to derail a deal and you can scale volume closings.The referral thing you want to know how much they scrubbed and qualified the lead.

But you would be surprised at how many people on here have never even bought a home to live in, but yet they want to just jump in and start buying multi-family rentals or whatever.