I have the lawyer lining things up and I know how to evaluate deals and assess risk.Thanks all!

A FHA inspector will come to the property separately to assess it.

@Lee S.To answer your question, if when assessing your property it can not cash flow with a theoretical 100% financing then it will never have positive cash flow.

Note that HELOC terms on owner-occupied properties is much more beneficial than non-OO (from my experience).Good luck and congrats on the 1st purchase and good progress towards the second.

I think that in the beginning just try to do the one thing that will progress you the most without spending money.

Then, as experience and opportunities arise, you can work on improving those returns (and modifying your goals).Don't let perfection get in the way of progress! 

This means 1 am knocks on your door because their toilet doesn't work.Block value can be assessed by looking at an overview of all the median values of homes on the block to assess where your deal fits it.

I'd love to hear about your progress as I just sold my first investment property and I plan to buy a new multi-unit using the equity we had at some point this year.

I will also say that it is very hard to find that margin in all of the deals I have been assessing.

Are there any Internet tools in particular that real estate investors like to use regarding analyzing markets and sub-markets such as population, employment, economic diversity, ect?