The seller and I have agreed upon pricing and I am in search of a buyer for rent or a flip.

You can find a school's ranking pretty easily with a Google search.

*fingers crossed*So I've been doing A LOT of  online window shopping and my search brought me to an auction property that needed a bit of work.

Hi Eddie,I ran across your posting when searching for a similar type term sheet.

In most places, I can go to the county website and search public records to find out Ken owns 101, 202 and 303 properties and I can see the mortgages you have and estimate how much equity you have in the house.

Then you could tell them a more qualified applicant applied during this phase and you have selected them.You could consult a local attorney to confirm this is the best path.

And, how long have you been searching for a property.

People busy searching for details on specific problems that are currently bugging them (i.e. tenant issues, financing issues, etc), and are NOT thinking back to when they were themselves day-one investors.   

I am not sure how much I should aim to have before I even start thinking about searching for a house or what price range I should be looking for?

I recently came across a HUD (US Dept. of Housing and Urban Development) home in an area of NY I've been searching.