The only thing I was curious about was when you take out the home equity loan from home "A" for a down payment on home "B", do you have to pay that loan off as well as finish paying off the full amount of the initial loan from home "A". 

The initial rehab estimate I created is about $15k but the inspection found more than I expected(another newbie mistake).

Do not call registry gives a grace period if they initiated contact.

So read and ask questions and you'll be on your way to making some initial investments.

Primarily want their help setting up an LLC initially but also want someone who I can work with on an ongoing basis for reviewing documentation, transactions, T&C's, etc.Thanks,-Trevor

This is why I love the power of BP CommunityExit Strategy: Initially, our goal is to hold the property long term for cash flowHowever, we plan on using HUD FHA 223(f) to refinance the property..if we cannot refinance the property before the balloon we will start marketing the property for sale around year 3Ben you bring up good points on the tenant factor.

As I understand, the recent CFPB settlement that punishes Ocwen for reprehensible actions related to foreclosures ALSO mandates Ocwen spend 2Billion on principle reductions for underwater homeowners.I believe Ocwen was supposed to initiate contact with "eligible" homeowners.

The mortgage payment was $1265 initially and now since it's my rental property, I am renting it for $1400/month, but have $0 cash flow due to a property tax increase in 2014, so for 2015, my escrow payment is catching up for 2014.  

After joint venturing the deal we had fire the initial contractor, were more than double my rehab time, and had to scramble to find another contractor to finish.

He said he paid first and last month's rent when he initially moved in and is demanding the last month rent back since he doubled paid.