Others who are doing flips or rehabs often use the 70% principle as one metric to analyze a property.

In talking to and reading about those who have successfully invested, most seem to have a very firm knowledge of the principles of sound housing construction--seems like most were flippers first.

Qualified residence interest expense on up to $1 million ($500,000 for married filing separately) of home acquisition indebtedness plus up to $100,00 ($50,000 MFS) of home equity indebtedness is fully deductible for regular tax "Basically you can take the interest that you are paying on the actual mortgage of your house up the $1million limitation of principle. 

Hi Ariel,Please check out a few links to blogs I wrote for Bigger Pockets.You might find them useful for your Real Estate endeavorshttp://www.biggerpockets.com/renewsblog/2014/07/26/sight-mind-real-estate-investing-afar/http://www.biggerpockets.com/renewsblog/2014/06/28/abcs-real-estate-asset-classes/Thanks and have a great day.

I would rethink the using the excess cash you make to go to principle reduction, that will be dead equity that could be used to help you acquire more assets. 

Plus I make between $200-$300 in principle.

Once you set your sights on a specific task, finding the mentor will make a lot more sense.

I would recommend in-person for some classes such as principles usually it is a good method to increase your network and see why others are interested in pursuing their license.  

I wasn't clear in my original post, but the "PIT" was "Principle-Interest-Taxes" which included property taxes.

Too many venture capital firms, hedge funds, and naive large investors bidding up to the "stupid level" buying homes "sight unseen" - never having been inside any house, and paying up to 90%+ of ARV.