Don't want to put the cart before the horse.

If you follow the Realtor's advice (remember, he wants a sale) you need to make your offer subject to acceptable terms, otherwise you'll have a contract to buy at what ever the selkler wants to give you an backing out could cost you your down/earnest money or even a larger amount under the default provisions.You can also make the offer with better loan terms than you would actually accept and horse trade from there.

@Jesse Carlson get back on the horse.

I know you don't want to look like you're looking a gift horse in the mouth, but you really need to.

My ultimate goal is to escape the "Rat Race" and not live pay check to pay check and be able to contribute to my community.

I would think for you to take ownership you would need to Quiet title. and the act of quieting title will extinguish all Liens and encumbrances..Jon is correct as well first in line is first in time.. or we used to call it a race to the recorders office

I think that part of that had to do with reading lots of books, applying action items to the real world and having a positive attitude towards learning and growing.my goal is to learn a few things from Rich Dad and apply them and get out of the rat race by November 2008.

You might just be putting your horse before your carriage (or however that saying goes)

Therefore, the Debt Service is a NON-Operating Expense which then is reflected in the cash flow.Anyway, I think I beat this horse to death.It's not the Property that Cash Flows, it's the Investor that Makes the property cash flow.Something to think about.

I personally would like to find buy and hold properties so i can quit shoeing horses.