I'm embarrassed when asked about what I do...which is job searching at the moment.I worked in commericial RE as an acquisitions analyst and when acquisitions dried up they made cuts.

I think I finally got the bug a couple of weeks ago to really pursue this, and now I'm in the mind-numbing process of educating myself and figuring out where to start.

Finally, the vast majority of newbies fail in this business and the majority of rentals in the US are owned by individuals.

Finally, you need to understand the eviction/foreclosure procedure in your state.

Dustin, If he's buying properties that have an acquisition cost of $100K ($70K + $30K rehab), then $70k from a refi wouldn't even buy him 1 property free an clear.

For example, I originally wrote the property had a basis of $165k, capital improvements, I explained the recapture, etc... but the editor had the final cut....

And there's one final thing about this that pisses me off.

Late fees, fines/citations, water/sewer, and finally rent.As an aside but related... we implemented a rigorous move-in, safe and clean, and move-out inspection system that protected us 100% when standing before a judge.

Every time we faxed over docs, they never received them, finally talked them into giving their email.

broker called me today and said he had another offer at 290K and they wanted final and best...i went in at $300K, we'll see what happens, i really want this one, im ready for my nxt deal and this has the possibilities of condo conversion and/or subdivision down the road 10 yrs or so...