I've worked for a national hard money lender and wholesaler for the past 4 years and am currently seeking to start my own firm here in the Charlotte area.I worked through college as an auto mechanic which pretty much cements the fix-it mentality i have.I was also the operations director at a large outdoor amphitheater for almost 5 years and that has to be one of the most abused pieces of real estate in town.

There are tons of ways to get started like you said but if you want to do this fulltime and operate a true business then ultimately you have to be able to manage your your money and credit and you need cash for unexpect circumstances.

I work for the Metropolitan Transit Authority as a train operator.

Do your best to lighten your load in life, don't haul you past baggage with you on your journey to your new life.

immediately call your lender and give them the contact info needed to schdule their required operations.

Wheatie often says that the operating expenses can be OVER 50% and this property is a prime candidate for that.

The vacancy rate is only one of a large number of operating expenses and many of these expenses are constantly changing due to a number of factors.

All your operating expenses are also deductible.

An LLC is a right choice for Rental Real Estate activities, but not for Rehabbing or a flipping operation such as yours.Joe

You made a very common mistake by ommitting many of the operating expenses.