But it's another solid base hit and, in this market, I'm willing to take a turtle approach.

I'm a complete rookie to the world of real estate, but I'm drawn to the idea that building a portfolio of buy and hold properties is a solid "get rich slow" plan.

I think if you have that threshold, work with a good inspector and don't over estimate your sales price - then you should be in solid shape. 

I'll certainly be rooting for you.

Have good credit, and solid work history3.

I'll be rooting for you here in Orlando, Fl Blake!

. :) Neighborhood stats/demographics seemed good enough, seems like a solid blue collar neighborhood.

The best case scenario for someone who's not a young gun looks something like this in my mind:You have cash tucked away to cover:Downpayment6 Months of mortgage for the new property (in case of vacancy)6 Months to a year of salary put away in case you lose your jobAlso, you'll have a solid W2 job with enough income that if you lost everything listed above, it wouldn't ruin you.

Opportunities here are limited and we are very rooted here because of family.My wife and I have been discussing options and alternatives.

(As stated before in this thread, you really need to build a solid relationship with these folks as their terms on timelines can be pretty strict).3.