but be more specific about your situation and we may be able to better advise you

Top two things to do are to:educate yourself on the different aspects of RE, figure out what makes the most sense for your life goals, and to pursue a deeper knowledge of that areafigure out your financial situation because that will dictate what you can/can't doI guess that was more than two things...

We'll cut to the chase, here's our dirt.The Facts: Ages 51/44, Married, w/10 yr. old childOne steady income 45KOne low income & fluctuating (self employed only 2 years but growing slowly)Living/ renting in NJ (Very expensive market, 2 family units sell over 500K)Fair amount of debt 37K (Car loan, 2 CC, Medical bills)Just getting by each monthCombined 401K's =  150KMy 401 (100K) can be transferred with no penalty to a self directed IRA (I had opened up last year in hopes of using some cash to invest in RE) We are determined to get into REI however we're probably going to need some creative ways to do it with our current situation.

Also, i would love to hear what you guys would do in my situation.

But that's a very different situation that he's trying to use to validate his situation.

Our PMC advised us to give the tenant a 30-day notice to vacate and we gave them the go-ahead to do so.Is this a situation anyone here has encountered?

In advice, I will say that your credit score might hurt you a little in interest rates but it is not a no go situation for me and should not keep you wondering. 

My situation unfortunately disqualifies me for a conventional loan at the moment, as I only have 1 year of work history/tax returns in the US.I was previously employed in the UK, however due to a 1 year gap in employment history (whilst I was going through the immigration process and was legally not allowed to work) my lender has told me they will not be able to complete the loan.This leads me to commercial loans!

Find a contractor and go from there, I'll keep you posted on this situation.

Actually, I already moved and need to sell my previous residence and that's what brings me to the forums to ask for some guidance.My situation is that i'm trying to sell my house, which has been on the Market for a month.