How do you guys go about selecting the bank to start forming a relationship with.  

At this point I can tap bank loans for much more favorable terms so I should probably hold off on any seller-financing deals until that no longer becomes an option.Overall, the deal seems lose/lose.  12.5% locked in for that long does seem like a low ROI for the seller (especially considering interest rates will likely rise significantly in that time), yet still too high for me for cash flow purposes.

At the moment this seems to be the best option for me but wanted to ask if anyone else has any other tips for my situation?

I am working with Streamline Funding out of Austin TX for my HML.I have my first property under contract and just finished the inspection.I will keep everyone posted on how things go.The reason for me starting this discussion is because, I have been apart of this forum for over a year and some of the questions I had about the estimated costs of getting your first deal started, were never answered.For example, Earnest Money ($2000), Inspection ($275), Appraisal($406), Closing cost($3000), having to put money into escrow for construction cost ($4000).This is all for a hard money loan.These are thing I am learning as I move forward.

The person managing for them (not always a good, licensed property manager, but one that will do what the owner says) gets a new tenant in quickly that has first months rent and security deposit and some form of job.  

The competition is CRAZY out there, and it is kinda a far drive for me.

I am focusing on this area because the price points are better for me.  2) General advice on how to reach these goals.  

hello everyone,I've recently made two offers on short sales, (they both happened today)as they looked like good deals when i quickly ran the numbers, so i made offers on both as things are going crazy fast here in vegas and i thought it was best to submit an offer then have the option of turning down the deal if it wasn't a good one.after using the rental calculator one cash flows for 90 and the other for 60. and this is without me allowing for cap x on either, the reason for this is that ones a town home and the other is a condo, both with good hoa's, i did allow 5% for repairs which i think is a lot as the condo has just been totally refurbished and the TH was in good condition and I've allowed 1500 for touch ups, so it'll also be like new after I'm finished. my thinking was that this 5% would cover both repairs and cap x as there shouldn't be much in the way of either. is this a terrible idea for me to allow so little for both.i would be waking in with 25k of equity on the TH and thats without my 20% down payment. and with the condo id be getting around 13k.here are the rental calculator results for both-any help would be greatly appreciated!

For me, as long as the numbers work and you're comfortable with the risk, it's a great way to get started.What areas have you been looking at?

For me, it was the best way to learn.