The next book I read and I'd recommend to start with was The Book on Investing in Real Estate with No (and low) Money Down by Brandon Turner.

If you have good income and good credit you can qualify for interest rate low as 9%.... if you consider that low...

(Self employed general contractor, income low on tax returns, but own house worth $1.2 million, no debt)Would love other opinions on this, not just our realtor’s.

I guess its true that people can be in denial when it comes to a pre foreclosures.

But navigating all of their red tape got me into a really great property with a really low rate so it was certainly worth it.

Just FYI, the cash reserves ($2500) is low indeed, but that's for our company, not our personal lives and expenses.

You will be having a parent as a guarantor and it is their credit score you check not the student.As far as your credit score requireent is concerned 600 is probably OK for  C class neighbourhood but if your property is B or better 600 is far too low.

Appraisal is the wild card and honestly not many ways around it other then a good agent...and even then can be hard.Catch the wrong appraiser on a bad day at worst your screwed at low price or beat case you challenge it and win...but this still takes time.Remove the appraisal and you have much more control of the situation but lack a lot of the lending options...But 30 day can still be done and is done often (and runs concurrently with inspection so assuming you get past that).

Selling low and buying high never works, same goes with real estate.

but with minimum wages increasing and cost of production increasing, there will be a point where machines will cost less than human, and when that point hits... then yeah all the low income class jobs are going to get replaced by machines.