Welcome to a awesome sight!

You can be compassionate without losing money :)Good luck!

I made the mistake of buying a property sight unseen.   

so I have no intention of losing him.

Without looking I had already met and put together not just resources but business associates - people that not only help me to continue learning and growing but genuinely have an interest in my business.Going through the process of finding lenders I found some select lenders that provided (HELOC) or can provide the essentials of what I can rely on when it comes to acquiring my next loan.In hind sight it seemed relatively easy.

You'll never time it right...and if your strategy is long term hold and you buy now and don't over-leverage, you are going to make money...and you are going to lose money....and you are going to make money...on whatever you buy.  

However, if you managed to lose money on the rental property without including depreciation, then yes, it will probably hurt your DTI ratio and negatively impact your ability to borrow.

Having a license will also help you cut on commissions which truly adds up and can make the difference between losing or making money on your first deal.

Someone with moderate resources like myself, that enjoys hard work, and absolutely hates to lose would be ideal.

You'll actually lose a LOT more with it sitting 2 months than if you just listed it at the lower price in the first place.Hope you found this helpful -- being a new landlord is tough ;)