Overall, your numbers look great but as cautioned watch for the big maintenance items.

There's also some good guides in the intro forum.. http://www.biggerpockets.com/forums/86/topics/106912-east-bay-meetup---dec-10-in-oakland @Joey Budka , watch it buddy!

So net-net, lots of promise but also these topology concerns I haven't dealt with before.Can anyone point me to guidance like cost increases to bulid, pitfalls to watch out for, and due diligence steps to take, to asset the impact of the grounds on building the house?

Jonathan Hi Johnathan, I was reading and studying Wholesaling....I am still struggling with the process of it, is there anything on this site or do you have anything you can send me about the process...for example I know from being a former real estate agent that earnest money is placed upon a mutually agreed signed contract usually $500.00 depending upon the value of the property....While that is not an enormous amount of money, if one sets out two or three contracts trying to whole sale it is a risk of loss if the deal does not go through...since i am restarting or reentering this real estate investing world with limited resources, I was wondering about strategies and specific process to follow that help minimize the risk...I like the double closing ideas, I had watched a video on wholesaling and that is how he described it as well...any help would be welcomed.  

Watch out!

I'd watch condo purchases but some of them can be great rentals.

Ladies/Gents,I have a question regarding money.

Really great work, I was going to comment that you must watch alot of HGTV LOL but you beat me too it.

Good evening,So after reading, blogging and watching videos, I have learned I could go for a FHA loan, get the property, live there and rent out the rooms and live rent free.

:In general many times I feel a little uneasy with Craigslist because of scammers, and potential crazy people (and I have run across both) that lurk around there.Investors also watch Craigslist as well.