So I kicked the habit - I stopped going to seminars and started to apply some of those ideas that were preached by speakers who were experts at extracting fees from me.I started to attend real estate auctions, studying the process - watching others make a lot of money - I decided to get a credit line - increase my credit card limits and started looking for properties (cheap- ugly buildings) in the neighborhood where real estate auctions were taking place - my primary goal at this time was to learn the market in the area where I wanted to control real estate - I would look at 50-60 houses (but made no offers - when agents would try to qualify me I just said "I have a small inheritance and will not need financing) - I kept a journal of the price per square foot,  comparing properties, and all comments made by sellers and agents (this helped me to find the seller dominate selling motive),  that was helpful - but I soon discovered that I was just looking for real estate in the conventional way  - I needed to do something else - so I started to look for owners of real estate who had problems (I applied Power Prospecting formulas) and at the same time studying creative real estate techniques from the old masters in the industry - became a member of the Washington Real Estate Exchange, hosted a real estate investor club and started to give mini creative financing seminars  while networking with those I wanted to emulate. 

My recommendation  is to read and study and get to know your market - This site and the meetup groups are so helpful. 

Study the subject, quantify your equity, identify the risks, find an attorney, and look for BP experts. 

Hi, my name is Ariel and I am currently studying finance at Fordham University.

You will find a lot of very confusing language in most commercial leases with insurance language being some of the most antiquated language in existence.  

Not having a full market study, specific to this property is like starting a business without the prior market study and assuming arbitrarily that you'll get a market share of x%.

The following non-recourse language is listed: The obligations of Borrower under this Note are NON-RECOURSE, and in the event of default by Borrower under the Note or other loan documents, lender will look solely to the collateral securing payment of this Note for repayment of the indebtedness owed by Borrower. 6.

I’ve been studying Real Estate Investing for 7 months now & I am determined to make this my path to financial freedom.

@Ken Nyczaj You should build in a feasibility study into the contract with a clear exit clause. 

Scott's books here on BP, study them and you will have a better understanding about capex over time.