I'd like to invite you to read my post on Beginner Basics here on BiggerPockets - http://www.biggerpockets.com/renewsblog/2013/02/26/beginner-business-basics/Two of the greatest places for you to learn about investing and about your local market is at your local real estate investor meetings (which you can find at www.NationalREIA.com) and your local landlord association meetings.I always recommend a w2 job to pay the bills until your real estate business is doing well enough to take over.

It is another free resource that will help you understand the various investment strategies and the basics.

We are in contact with the buyer but he has moved to Thailand and basically has no records for anything that he can put his hands on.

If someone is not willing to sign this type of contract they have basically declared that they will not be responsible for working in a timely manor.

Basically, I'm seeking advice as normally I'd jump at the chance to own a duplex for no money down but the fact that the home is underwater sort of worries me.

Basically all post here are correct.

Yes the increase from 4 to 10 pgs. was basically what I was referring to.

I've read about analysis paralysis and feel eager to get started with investing, but also want to put in the proper amount of time upfront to learning all of the basics and building a solid foundation of knowledge.

Basically reading the books will fill you in on the acronyms for residential and commercial investments.

Sorry if this seems too basic .. maybe that's all obvious!!