I probably should also have mentioned that I renovated my own home, completely, including a second floor addition back in 2005.

Before the age of 25 I would like to acquire at least one property within a mile from campus.

In addition, a form should be sent to each tenant requesting a list of payments made to the PM for the last three months, at least for the first year

Hi, I'm a 27 year-old engineer looking to learn about commercial real estate investing in order to acquire properties that will provide a steady source of cash flow that will allow me to continuously add to my potentially higher-return stock positions, as well as cover living expenses. 

Obviously I don't consider this a great deal and I have no reason to believe that he will actually pay me the additional $600.

I try to listen to at least two podcast per week in addition to reading the Blog. 

Go back and seek additional guidance from your document sponsor and your CPA.

I would really like to acquire this house but am really new to this and would love your advice on how best to proceed. 

Quick question before I give advice -- based on the cost numbers ($28K purchase, $50K rehab, additional $15-20K rehab, plus any purchase/holding/selling costs), it appears that there's a good chance you're going to break even or lose money on this deal.Are you prepared to do that? 

Additionally, I will be attending the Ocean County Sheriff Sale this coming Tuesday to observe (we have two private lenders who are interested in working with us).Thank you in advanced for any assistance you all can provide!