I have been trying to read as much as I can over the last few months before I make the dive and be as prepared as I can.My background is actually in commercial real estate accounting, so I have a little experience on the financial side, if not so much the sweat equity side of things.

Still, you should be prepared to answer specific questions about area schools, community amenities and businesses nearby etc.

Make sure you have Your real estate attorney prepare the loan docs, close the loan and get lenders title insurance for You. 

I want to know what you think I should do right now to be as prepared as I can be when I graduate high school.

Like:Cash Heloc that you can use for cash purchase Private Money from friends and/or familyHard Money lendersGet Brandon Turner's Book called "Investing with No/Low Money Down".This will get your creative deal funding juices flowing.  

Besides the strong offer price, think of any other creative ways to make your offer just a little sweeter for the seller.

When you learn how to do creative financing strategies you won’t need any credit or be forced to kiss the banks a$$ 

School year, Holiday's, and Colder weather slows things down.When I help with deal evaluation, I considerRents to be the lowest number reasonable to get the home rented if I hit the market the first of Dec (very slow time of year for most markets.)Prepare for a lower appraisal than you might think.

(Read the notice word for word.)If you don't hear from her at all, schedule a lock smith to change the locks at 8 am on June 1st, and be prepared to have some work to do.If rent is not paid on time for May, begin the eviction process the next day!

If you are looking to just partially cash out without the hassle of the rental anymore, there are also other creative financing exits as well that you can do to maximize cashflow will minimizing management overhead.