Ok, now that you have taken your initial step, below are some quick links to get engaged.http://www.biggerpockets.com/starthere Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessREI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.http://www.realestate.com/advice/buying-your-first-investment-property/

Knowing and hearing all the horror stories I realize there are alway way more expenses than you ever expect, so therefore we plan to collect $80k for every property, so we would haven about $30-40k left over for safety margin in which we can use for initial remodeling if needed, and any unexpected expenses that may come up.

I used a BP calculator to look at all of the numbers when I was initially looking at the house, but they have changed slightly since I got my offer accepted, got the interest rate, and got the exact insurance amount.My monthly P&I would be $520, Insurance $78/month, Taxes $70/month, HOA $10/month for a total payment of $678.  

Did you forget something in your numbers or not run them initially?

I would recommend structuring the initial equity split based on what you feel comfortable investing in the deal and what your investors are comfortable with.

Included in this purchase proposal, I am interested in purchasing the following: The house, land, and associated property for the address given above All furnishings and appliances associated with the property listing I propose an initial deposit of $10,000 as an act of good faith.

Typically. the party that initiates foreclosure has a mortgage that is in first position and takes priority over all other liens on the property (except for liens related to property taxes).

Hello All,This is just a second try from the initial proof read under the post "Letter to Absentee Owner: Proof Read"Tell me whether it looks better than the last and everything and anything you notice that I SHOULD improve about the message (format or content).

I just worry there are so many areas to initial by or sign that they miss that stuff leaving it void. 

I'm sure the case by case answer to that question will be "it depends" but it seems like a good opportunity for someone with a larger investment capacity to find a partner that could bring something to the table other than initial capital.