I definitely struggled to find some great mentors myself, however, and I think that my experience could perhaps be of value to you!

Primarily, they invested discretionary income and excess cash flow into property deal and/or notes.If you're struggling financially, that won't help you (yet).So, ask yourself if you have sufficient RE knowledge and skills to work IN real estate related business.

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling. 

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling. 

I'm a new investor and would love to hear your opinion on my 1st rental property purchase attempt in Southern California.The good:1. 4/2/2 1600 sf SFH with big yard;2. flipped house so everything is new;3. comps with smaller square footage or not so good condition are all over $100k (ARV is around $120k-130k), and seller countered for $75k;4. it can rent for $1000/month;5. it's a relatively safe and quiet area.The bad: 1. vacancy rate is like 20%-30% in average for that area because it's rural and has lots of rental properties;2. roof is in very bad shape and will need to be replaced in a year or 2, which will cost about $5000-$8000;3. no dishwasher, will cost about $1000-$1500 to alter kitchen cabinets and add dishwasher;4. only has vinyl siding, not a good choice for high heat area and will stretch and sag, cost $5000+ to replace with stucco;5. no separate garage door connecting main house, will cost about $1000 to add it;6. house is about 2.5 hours away from where I live;7. almost no appreciation.Expenses: property tax: $1541insurance: $570property management: 10%maintenance: 5%tenant replacement: one month rentI understand how hard it is to find cash flow properties in SoCal, so I'm struggling on whether to proceed with this deal even though cash flow is only about $100/month, not to mention cash on cash ROI is less than 5% considering all the capital expenses in the near future.I welcome any input.  

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling. 

I have an opportunity to build 2 more homes and sell them but I am struggling to get financing to build them.

I am always looking for ways to make money in real estate, but am struggling on deciding what to do first.

The only thing I'm now struggling with is the leverage aspect.  

If you are having financial troubles and declare bankruptcy, your mortgage disappears, your credit takes a hit, you're going to struggle, but you're likely debt free.