@Chris Purvis -  Every broker I deal with (I represent buyers in a brokerage) require a pre-qualification letter to be submitted with all offers, and some require a proof of funds as well.  

My schedule is 24 hours on and 48 hours off and I think my schedule could be ideal for managing real estate.

The ideal vacancy rate is 0% and the ideal management cost is 0% of rent.I budget 5% vacancy unless I have other information that indicates I should budget more. 

Pre-probates, too.Have you thought through your ideal exit plan?

Ideally I want to do 2-4 unit building and build on this.

Ideally I wouldn't be able to find a bigger deal that I could structure like all these little ones Ive done and avoid giving half my deal up.

Still hoping to make this deal work, I'll update with any changes.The 50% "rule" says, long term, you can expect 50% of your ideal (market rate) gross operating income to go to expenses. 

I am new investor, focused on getting that first deal done, and I'm following a system in which you focus on one specific neighborhood, using a realtor and MLS, "in your own backyard" that consists of "ugly" homes in ...

Everyone needs to see this movie.

I deal almost exclusively in REO's now.