Thanks for being such a great community and great inspiration to all of us that never get around to finding a way to say it, and I look forward to hopefully having my first interaction/s on this site! 

Most firms also have some sort of pricing mechanism that is determined by the asset value of the account.A Checkbook IRA LLC may be more appropriate if you are seeking to invest in assets that require more interaction. 

You should also not allow dead equity to sit in your properties, this will encourage unscrupulious individules to file frivilious and dishonest lawsuits.

Exact cost of carpet, flooring, water heaters, HVAC.My ignorance of costs, reliance on a manager, and hesitancy to interact w my  tenants cost me.  

If so, set your system up for the least amount of interaction or untimely interruptions.  

I have managed to bring my credit score up from 640 to 780 and can see it soon being over 800 with just a little more work.Having thoroughly enjoyed my time here at bigger pockets thus far, I have been getting excited and encouraged to build up my portfolio more.  

http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate Success Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

Thus, the downpayment would be low and, if the property is ready to rent, the turnaround time to cashflow would be relatively short.I have been entertaining some side income possibilities, but I don't think there is anything that would yield income immediately.You are correct that FHA requires that the property is 1-4 units, which I think is precisely because anything 5+ units is commercial (and thus wouldn't achieve the gov'ts goal of encouraging home ownership).A bit of this is also buying my first home, while also leveraging FHA and house hacking to get into an income property, and using it as a launchpad for future investments.

I've interacted with 3 builders and their new construction costs ranged anywhere between 120-140 bucks a sqft.

I think the guy is looking for encouragement and for you to add value, not play the "you don't have money in order".