If anyone has any words of wisdom, I am all ears.  

An average percentage of repair costs to get the house up to fair market value / or sold would also be good.Thank you for taking the time to read my post, and thank you again for any wisdom or experience you can pass on!

@Michael Ealy I am very much interested in more of your knowledge, wisdom and experience.

Hi @Tony Thomas,I'm in Sacramento, but have mostly been lurking the Bigger Pockets forums, as I'm still very much a newbie with plenty to learn, and not much wisdom to share.I'm glad to know there's at least another person from the Sacramento area interested in rental property investment and just getting started.

I’m working hard to make the most of Bigger Pockets; but if anyone has any wisdom, personal experience, resources, articles, podcasts, introductions, etc. to share, I’m open to listening!

I am extremely impressed with how organized, positive, and open the BP community seems to be and I am eager to continue to learn from all the freely shared wisdom.  

I appreciate all the advice, tax wisdom, people debating options, some stating I was cheating the system, I looked at all the feedback around gap years, etc.  

Closing should be ready for a nice early Christmas Present :-)  Thanks for all the words of wisdom, and stay tuned for more updates.  

Thanks @Marc Ramsay for your generous sharing of wisdom and experience!

Property#1Property Address: 508 Alleghany Rd, Fayetteville, NC 28304, USAPurchase Price: $43,161Rehab Cost: $13,900ARV: $80,000Current Rent: $900Vacancy: 7%Property Management: 10%Capital Expenditures: 5%Maintenance: 5%Total Time from purchase to refinance: 12 weeksTotal cash invested: $0 Monthly Cash Flow: $137What I would do differently: Ok so this was my first property so I was scared to death and was banking on the 2 years of learning and networking I had done prior to purchasing this property for wisdom and guidance.