If I had one rehab under my belt that was closer to home, I'd probably feel more comfortable, but this will be my first.

I thought the belt tightening 2-3 of years ago - when regulations returned to the "must qualify at 5-year benchmark rate, 25-yr amortization" from the "if you have a pulse and want a 40-yr amortization" - that this programme had been eliminated.I wonder how many (if any) lenders are offering this programme.Regardless, while it may be useful (though with the premium charged, I have doubts), it can also very dangerous.

The important thing is: I will have a turnaround project under my belt, so the next deal should be a lot easier...as will raising funds to purchase this one in 3 years (I hope!)

I realize these dollar amounts are tiny but was really just trying to get my first deal under my belt and it ended up going into a world I am not familiar with.

But I guess I am a newbie because I have still yet to get a deal under my belt. 

In 3 years I would like to have 20 units under my belt cash flowing with the rent at the going market rate!

I'm trying to get as many tools in my belt so that I have a better way of dealing with sellers and objections.

I'm a relative newbie, but have have a couple of properties under my belt and am happy to help in any way I can!

I'm about to go through my first tenant turnover and was wondering if anyone had any recommendations for cleaning services/handy men services. Let me know. Thanks!

Once you have several wholesale deals under your belt ( and a good cash reserve) you can decide to move onto flipping and holding long term.