Since you are living on site, you can keep a close eye on things and easily self manage. 

I am a relative newbie as well compared to many on this site, but I would glad to offer you any advice that I can to help you get started. 

LOL It's still accessible through my site link if you're really interested (rental #5 link)When I say load up the HUD, I don't mean to do anything shady, rather, to include all pre-close costs possible. 

I've been looking at picking up houses through the auction sites (Hubzu, Auction.com, etc) and I know that as the buyer I will be responsible for closing costs.

Do your due diligence, but confirm it with your team (and any large discrepancies serve as red flags, about either the information or the confidence in your team members).

And ALWAYS follow up.Here are the numbers on the deal:- $108,000 Purchase price- $8400 closing costs- $70,000 Rehab Costs- $2,000 holding costs for two months (estimate is 5 weeks to completion but lets say two months, it wouldn't be so quick but equity partner is full-time GC on-site)- $274,900 ARV (Appraisal completed by bank)- $5,498 Selling Costs- $16,494 RE Commissions.Net Profit = $64,508 about 23.5% profit off of ARV.Now the fun part begins, I'll report back with pictures as we go through this.

You can do the research, join a local apartment association or hire a PM.If that sounds doable to you, you can certainly search online for a property, but if you find a good agent, they should be able to steer you to a property that will serve you well as well as point you in the right direction for any management advice you might need.Best of luck!

My best friend told me about his site (but he's not a member lol).

Hello and welcome to this site Brandon!  

This site is an invaluable source of information.