One last piece of advice is to practice, practice, practice and when you think you got it down, practice again!  

I would consider them practice more than anything else but now I think we are ready to tackle this thing and create a portfolio.Our plan is to flip at least two properties before purchasing one or two multifamily units in the local market.

@Dylan McLauchlanDylan,Keep in mind that in some areas renting by the room can be considered a discriminatory housing practice because it could potentially prevent families (i.e. parents with kids) from renting.

I'm a practicing attorney in Northern Virginia with an interest in real estate.

Kyle/Buda are practically the same community, but you will find more in your price range in Kyle 78640 or the southern zip of Buda @ 78610.  

., you have taken practical steps to reach this planned goal. 

Now that you have decided not to do the deal, take a good look at it in detail and use it as a practice run for the next deal.

Buying subject-to existing loans is a practical way to buy property, especially if the seller is financially distressed.

I am actually going to be sworn in as an attorney licensed to practice law in Connecticut on Monday.

I understand that this is probably a long shot but it will definitely be good practice for us even if it doesn't work out.