I am planning to jump into my first deal, but if it's the height of the market, should I hold off or will I be unaffected if I still get a deal where the numbers work right now?

Or if there are details or considerations that you could offer, again, I would be appreciative.Dave

Close to schools, low crime, etcLooking for an investor with: 80,000Foreclosed Home: 60-70KRepairs: 10-20KLawyer, Realtor fees, etc: 5,000So the question is, what else do I need to take into consideration.

Would a bank take into consideration that I owe less than 80% of the property and would I be able to not put any money down on it?

At this level the factors under consideration are avg rent and avg listing price. 

So I guess taking into consideration the value of the property (at this stage we will only be doing one at a time and slowly increasing), a profit split of 50/50 would be fair?

The results from Smartmove, which provides credit, criminal and eviction reports, combined with our tenant verification via former landlords and income verification, has improved considerably the quality of our tenants.  

Please, when marketing to these people, take into consideration what they are going through.

As long as you talk to the appraiser and explain the situation, they should take your input into consideration.

Income-wise I could qualify for both properties without rental income being taken into consideration.