You will learn some valuable lessons on your first one, and that is just the beginning of your education.   

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookCouple good reads 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper How to Start Wholesaling: Getting Past The Education and Into the FieldDownload BP’s newest book here some good due diligence in Chapter 10.

My hope is to take further steps in networking, and continuing to educate myself. 

hello BP , WELL I am a newbie to the Real Estate World & found this awesome site to educate myself .

While you are waiting for that to happen, educate yourself on how to properly screen tenants and mitigate risk for when the bad ones sneak through.I use situations like this to educate myself and build policy to prevent the same problem from happening again.

I figured I would start up a thread to follow the deal, the numbers, and contribute to the forum with education!

Once you've got a good place to live sorted out I feel like you can focus more intently on getting educated and hunting for deals.

You still need to go through the P&L's and figure out which line items need to be addressed.Bob, Nice to see you coming around trying to again educate me on CAP rate again.  

But like I said, I've been educating myself with real estate and doing the real thing is something I've not done.

My main reason for wanting a license (aside from the educational aspect) is to be able to search the MLS on my own without the need for a realtor.