I wouldn't spend everything though, I would try to keep enough cash on hand to continue flipping at least one property at a time while getting income from the rentals, which appears to be your ultimate goal.

We also have some homework to do to compare the other houses for sale in the neighborhood to determine what kind of rehab we ultimately need to compete.

Some people understand this to be a mechanical devise that aids in moving air so that item 2 above is done (we'll call those attic power vents) To some people it's a large fan that pulls air from in the house and ultimately from outside and pushes it into the attic (we'll call those a whole house fan).

Educated playing will make you money, but you WILL sometimes lose, and you have to have a wallet big enough to survive those times.

(i.e. replacing carpet with hardwood floors).Ultimately I'm trying to see if it's better to sell the house or to do a 1031 exchange for a multi-unit in couple years.

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

My ultimate fantasy deal isn't an investment, it's a condo on Kaanapali Beach.

Ultimately it's out of my pocket mortgage payments that are going to keep me in corporate America.