I'll need new electric service, furnace & hot water heater . . . so, all and all, there is no MAJOR renovating, simply getting these 2 units operational. . .If you know of any good, reliable, and reputable contractors in the area, please PM me, or send me their details.

I would dispute the information, since you know it is false. 1 collection = 25-30 points on your credit report.

I know it's not all that complicated, but I don't know the details.

See next section for more details.4.

Let's see, you're a total newbie, these guys are PROFESSIONALS, you don't seem to know any details of the financing or the deals.

This is FALSE, BUT....Banks are in the business of lending money to make money.

Keep one vary important statement in the back of your mind when investing "The Devil is In the Details".

In this business, it's hard to find trustworthy, ethical, and detail-oriented people.

If you don't have it, get a job and save up some money.If this (flipping two houses for $40K profit with less than $200 cash spent) really can be done, I'd really like to see a detailed account of it.

4duck- I would be happy to help. 12 yr mortgage veteran and seasoned investor. email me with some details on what you are trying to do.Matthew