Excellent dialogue, guys!!

This is an excellent place to start.

He obviously is a proponent of paying cash for properties and makes some excellent points about it.The key for you seems to be to understand what is and what is not a good investment for your investment goals.

Fortunately, I have excellent credit (765 fico), but my meager $60,000 salary doesn't leave much left over after paying for the mortgage, car, insurance, student loans, retirement, etc.I won't have more than a few thousand dollars to part with which I'm sure will go towards closing costs.

I agree with r2d2 and would recommend the Carleton Sheets course as an excellent basic education in real estate investing.

I've seen some excellent questions and thoughtful answers in my one day of poking around here.I'm not brand new to real estate investment, however, having been involved with income properties and real estate education for about 35 years.

Very good condition. excellent location, very close to highways, walking distance from community college.

Very good condition. excellent location, very close to highways, walking distance from community college.

The Carleton Sheets course is an excellent beginner's course and there are many good books out there also.Your plan to buy a house at a BIG discount and live in it while fixing it up is a good one.

The actual algorithm is a trade secret of Fair Isaac, but the following breakdown approximates the weighted values that compose your score.35% Payment history30% Outstanding debt15% Length of your credit history10% Recent inquiries on your credit report10% Types of credit in useThe "average" credit score for "excellent" credit is 720 or better for most major lenders, such as mortgage lenders.