And the IRS really doesn't like tax deductions, much less those that don't accomplish their stated objective.

Thanks @Dion DePaoliMy objective is to hold the property for 5-10 yrs so I was thinking of an ARM.

Now I'm feeling like I'm making a decision based on my heart and not on business principles.

and add to the mortgage balance, attorney fees, back interest and penalties, could be thousands more than the principle balance.

Once you have even a basic understanding of that then get into negociations, over coming objections.

The basic principle is make it livable not desirable. 

I have a slight interest in flipping, although that is not apart of my main objective, if I came a crossed a deal that I thought would be a good learning experience and resulted in a decent profit, I would definitely consider that as well.I look forward to meeting people and hope that I may be of help to someone else, besides myself.

Take a real estate principles class, it will help you learn the basics, and the process of the business.

After the new wears off, they are on to the next shiny object.

@Michael LimjocoIt all depends on your investment objectives, If you haven't clearly defined what your short and long term goals are, you need to do that.