I would think that he is more honest than most of them.if you want to get involved in this business, I would decide what you want to accomplish.Immediate cash flow flipping housesBuild a real estate portfolio Commercial propertiesCreate a full time businessBecome a professional investor (full time)Dabble, play around, get an occasional dealWhat do you need?

This is why you'll occasionally have a deal that title discovers a lien or defect at the last minute, despite a prelim being prepared months in advance.We solve this problem with ours deals, due to long ownership periods by decedents and the kinds of challenges that life gave them (judgments, bail bonds, etc.), by submitting the S.I. up front and insisting that the T.O. run it through general index upon opening the order.

I was not as worried about repairs, other than the occasional, but Section 8 is supposed to reimburse damages.

My wife has experience in residential design (and she has been the sole designer and occasional GC on the remodels on our last three homes).Goals:  I pulled some equity out of the market and thought we would use that buy maybe 1-2 single-family homes here in Dallas and see how we liked being actual landlords.  

Occasionally I will dip below that when buying a lot or get a lot above that when saving up for a big purchase but it gives you a rule of thumb.One other thing I would caution about is make sure you have lots of liquidity just before and for 6-12 months after a big purchase.

Occasionally it'll load more but may take two or three loads.

@Christian Bateman A few years ago these were much more common but you can still find the occasional deal like this.

Let's assume our strategy is to focus on the purchasing of distressed properties, fixing them up, and then renting them out, with the occasional flip every so often.

They get paid to package, present and occasionally facilitate closing a loan. 

We also do occasional rehab tours of ongoing house flips, so you can see real deals in progress.Seize the day!