I am trying to take it slow but also gain as much knowledge as I can in a short amount of time.

Hello BP! I'm a 19 year old from Lubbock, Texas and I've just recently discovered Real Estate Investing. I've always been interested in investing, but it wasn't until just a couple of weeks ago that I started hitting ...

My dream is to profit from it but use it for personal time during slow seasons.  

Now I know nothing of that market it could be red hot for all I know.but smaller town markets tend to be slow movers and usually discounted purchase price from ask because there is so much to choose from.that's the basics

The location is ideal and is right within our chosen area of concentration.The owner has been transferred to the west coast and now lives out there (communication has been slowed as a result).

It is slow but brings about 10-15 leads a year so far.  

I'm thinking to try to get money for all repairs from the seller; if they don't agree, I'll withdraw.

I am confident with this step as I am anticipating the leads will come in slow and build momentum as more effort is put onto the pipeline. 6.  

If/when they hit 6%, 7% if you have fixed rate mortgages that will slow the market, maybe even cause the market to cycle down some but won't affect your 4% or 5% fixed rate mortgages. 

The fed's raising of short term interest rates only has an (arguably slow) indirect effect on mortgage rates.