I am extremely green to the real estate investing world and listening to some of the podcasts have inspired me to start my journey.

I'm extremely concerned about the shared well.

You can either look for extremely distressed properties if you have the funds and team to do major rehabs (what I did), or you can find a motivated seller who is willing to sell under market value.

That would make a payment extremely high each month so did you mean balloon?  

I spoke with a contractor today and it seems it is extremely easy to become a contractor in the state of PA. 

The problem I have though is that I can only put 3% down on my first home and after talking to a few underwriters It sounds like it would be extremely difficult to get approved for another loan within a year.

I am leaning towards Denver as Seattle seems extremely expensive for a young professional trying to get into REI.  

Every metro area in Florida is extremely saturated with wholesalers.

I'll give you my perspective, take what you like from it..as it is going to be extremely condensed but you'll see the tips of the icebergs at least. 

It's my understanding, and how we calculate it, that if the carpet was brand new when they moved in, you can charge for the remaining useful life of the carpet, so if they've been there more than 5 years, no matter how damaged it is, it is past its useful life and it would be extremely difficult to collect anything if challenged.