I am mentoring a guy right now and he had 0 money, 0 knowledge but loads of time and desire.

You, as a REI, see a very desirable property.  

To clarify, the mortgage terms are 30 yr and roughly the same interest rate (+/-.25%).You last sentence is impactful on my desired outcome, which is buying and holding the PR, then turning the property into a rental.

Now you have lost your bargaining position and possibly a new owner looking for pay back when you bring up your desires.

I don't know which property it is, but a 60' wide property in Bennett Valley wouldn't be all that desirable.

I recently had a burning desire to own multiple rental units and I ran across biggerpockets during info searches.

They are consumer choices that reflect a desire to possess more than you can currently afford (admittedly this is more true about the car than the house...but still true about the house).

But you must stick to your MAO (or below).Maximum Allowable Offer (MAO) =  ARV - Rehab costs - holding costs  - financing costs - resale costs - closing costs on purchase - closing costs on resale- desired profit.It's a long calculation, but it is critical that you follow the formula.Holding costs include insurance, utilities, taxesResale costs.  

Hello All,With great hopes something successful can come out of this post, I will leave the below message;Currently 26 years old with a desire to begin my personal real estate investing career mid-2017.

I feel like I should get my RE license just to know that side of the business but I have no desire to sell homes, it would just be to learn the laws and have access to the MLS listings.