Also, humanize the transaction by sharing the plight of the seller and explaining to them how they can really make a difference is your best bet!

This house I'm looking at right now is really out dated and I bet there is little TLC needed.So they are asking 238,900.

I bet an agent making 6 percent of the deal, will find a way to ge tthat one done.

I was just watching CNBC and they talked about a highly anticipated launch from MacroShares.There is an up fund and a down fund and you are essentially betting for or against the housing market.

This is what I would recommend if I was starting my REI journey from the beginning: Read Brandon Turner's book on Rental Property Investing https://www.amazon.com/Book-Rental-Property-Investing-Passive-ebook/dp/B018UTI2DOListening to the BP Real Estate podcast https://www.biggerpockets.com/podcastListening to the BP money podcast https://www.biggerpockets.com/moneyshowAttend your local REIA meetings to network (search for your area https://www.biggerpockets.com/forums/521-events-and-happenings)Start analyzing deals to get practiceEngage more on the BP forumsPost a profile pic :)All the best!

Look forward to following your journey.

After a couple of years, we'll rent it out and really start the journey. 

Also if you plan on using a second FHA to purchase your single family home, then there wouldn't be any equity for you to take a credit line out against that home.As far as which is better the duplex or the quad, I would probably say in this case the duplex is the safer bet (assuming the two deals are equally good numbers wise). 

Option #2 sounds like a long-term play where you may be betting on appreciation in those markets. 

I am excited about my journey.