Definitely the way to do it if you can make it work.Also, it's worth noting that currently individuals can only have 10 mortgages active at a single time.

I have about $300 on my credit cards (just finally paid them off for the most part, and have about $20,000 limit).My cash on hand is relatively light, but what my plan was was to find some single family homes in the north Detroit area (currently anywhere from $40-$60k and put about $15-20k tops into any repairs or fixes (not looking for total rehabs, mostly something I can do some small repairs here and there and paint, personally I am knowledgeable about renovating up until complex electric and plumbing).

Most but not all lenders give you the option of getting the current, market interest rate if rates drop after you lock.

Good Evening, here is what I am looking to do, I have a home currently.

I'm currently working with a couple of other out of state investors looking to do the same thing you are.

You can sign up for these on a great website called Meetup.Financial Preparation:Evaluate Your Finances: Understand your current financial situation, including savings, credit score, and any potential sources of funding.Create a Budget: Establish a budget for your first investment.

This will not be the case on some of the lower priced properties that are abundant in this area.DON’T FORGET ABOUT THE CURRENT YEAR’S PRORATED TAX BALANCE!!!

You can expect 4%-6% equity appreciation gain, especially with current rate and inflation.  

Create a current asset account in short of accounts called: "Due from PMC".

It's new to me so I hope someone here can shed some light on what she is trying to do.Her current property is in MA and is a four-unit.