I initially tried posting this in the Indiana Discussion forum, but it wouldn't allow it.I am, and have been, working on getting into REI, but have been dealing with a significantly bad case of Paralysis-by-Analysis.In an attempt to start treating, and eventually curing myself from, this horrible sickness, I have decided to get my foot in the door by working as a small scale property manager in the S.

I want to share my initial analysis and determine if I should try to flip the deal or buy it as a rental.

The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs"...Or, as @Charlie Fitzgerald suggested, 25% down on 4x $100k properties to begin with (but, in accordance with my suggested "trick", each should already be worth $130k+)! 

Just my initial thoughts to make sure you are buying in a visible area for the storefronts since that is immediate income that you would want to be stable as you work on construction upstairs.

If you want to connect with other investors, there is a FREE landlording meeting this Thursday, May 26th, at Tommy's Pizza on Dublin-Granville (between Sawmill and Riverside) that features education (a Q&A session geared to newbies for general real estate investing and landlording as well as a featured speaker) and networking and has a good mix of newbies and experienced investors.

I would have about $60,000 saved up from my current job for a down payment, but pretty sure I would need to put 20% down initially until I found a job there.

Our initial thought is to get into buy and holds with Single family homes and explore from there.

A lender will always look to see if you can pay for both properties simultaneously, and they'll initially base that off your income.

As long as you factor the higher interest rates (they are short term of course) into your initial calcs before you close the house.

If the property is worth less than what is owed, a short sale review likely can be initiated with the mortgage servicer.