There have been Heroin addicts that say cigarettes are harder to quit than smack, but then there is people like my old boss who would smoke a pack a day consistently then just decide 1 day to quit for 3-6 months like it was nothing.What I will say is that I think your policy is too strict for someone who is desperate to rent, it would be fine if you had candidates beating down your doors to get this place but that does not seem to be the case.

You might bump into some money guys there, know they aren't "private lenders" they are hard money lenders fishing in the waters.You'll also find leaches there, (not a derogatory term) it's very acceptable practice in RE for an experienced person to team up with inexperienced players to get a deal done, these experienced types just leach onto newbies and work deals, there are some who do nothing but leach deals providing themselves with more opportunities with less effort.

With the information age at its finest, it more practical to gather the same information for free.

In preparation, I will be practicing my underwriting skills on a closed multi deal in my target area every day.

Would you suggest wholesaling just to practice doing deals and to get to know people?

(there is a reason the property is cheap, and that's because you will probably put in a lot of sweat equity collecting rents and dealing with residents)On to the actual management and what to expect .As you are discovering that closing on the deal is just the beginning, now starts the real work: Getting the property to perform consistently and provide you with cash flow!

I hope someone reads this message and reaches out to me, practices patience and give me the guidance I'll need to be great in this business.

From a practical perspective, I would disagree.

Probably the strangest thing is that one of the light switches in the kitchen actually operates the built-in dishwasher...can’t figure out why that ever would have been a practical requirement.

The common areas have electricity for lighting and hot water heat and there are two coin laundries so the owner utilities consist of common area electric for lighting, gas and water for the common area heat and hot and cold water for the coin laundry.