I have always been interested in real estate, but was discouraged during the economic downturn and lack of education about real estate investing.I want to begin with earned income methods to pay off some debt, then use the money from earned income methods to fund passive income methods.I look forward to networking and learning from all of you!!

Second property, was right next door, so I actually leveraged that with a credit card 0% cash advance for 18 months...put a little work into it and once I file for taxes this year, will refi to pay off the cards (yes I know many hate this method).

Lower prices and a better quality of life.

Obviously he used lease purchase methods because a regular "sale" with a deed transfer wouldn't have made it past any cursory title search review, as there were still active foreclosure cases on the properties.

If the value comes up low in either of the latter two methods, you can then request and pay for the full interior appraisal in hopes of getting a higher value.

People get frustrated with them because they move slower than other investment methods and a lot of people need ways to get capital so they can buy rentals which forces rentals to come later rather than sooner, but in general, starting with rentals is excellent because they teach you the fundamentals first, then you can use those to be really strong in other areas.

But I'd heed @Thomas Williamson 's advice as a local.To keep your deal, I'd ask for new leases to be signed by the tenants that get your rents to $1000/month through whatever graduated method you'd like.

Right the MMI on FHa is now for life if you put less than 10% down but realistically only maybe 2% of people using FHA put more than 3.5% down unless its for a strategic reason.If you have superb credit I would recommend you use 5% down payment and payoff the MI through whats called single premium lender paid mortgage insurance this is done by raising the rate high enough to absorb the mortgage insurance for instance instead of 4.75% you can opt for 5.125% and it will pay for the MI off for the rest of the life of the loan, or you can keep 4.75% but pay the SPMI in cash, or pay the stereotypical method of monthly mortgage insurance.If you're going from FHA to FHa refi thats a different story (streamline FHA refi).

Finding good, reliable contractors was difficult, but the good news is they all know each other, so once you find a couple that you know do quality work, show up on time, finish the job, and have competitive prices, they can point you to other people they have worked with in the past.

I'm in the searching stage and I'm trying to look for quality financing.Thanks!