Keep up the good work and excellent content BP!

The house needs a lot of work and I'm eager to begin to work on it.

See how many similar places are up for rent which is your competition and the current rents.2) Get the inspection report and do an oil tank sweep and get (3) General Contractors to give you written bids once you write your own clear scope of work for them.3) Then crunch your numbers and your conservative timeline to complete to see if the deal will work based on the Bigger Pocket rulesAnything less; you are gambling and hoping and praying this deal may work and since this Iis your first deal it doesn't usually turn out good.

I vote for a new forum ...always enjoy seeing other peoples work, and stealing ideas from the best...we are working on better more professionial documentation of our projects,  I would be happy to post them as we go, should be in the next month or so......here are a couple amature versionshttp://m.youtube.com/watch?

--------------------------------------------------------------------------------------------So I know if I put in the work and make the number of contacts I plan Ill get business.

Credit, income, reserves, experience in your line of work and in real estate are all factors that a lender will consider in making a conventional or commercial loan under.If you're strictly free lancing work on a non-contract basis, you may find a portfolio lender to provide a conventional loan if everything else is strong and you're just a few months from meeting the two year mark.The loan to value will also be a consideration, you'll have better luck asking for a 50 or 60% LTV loan than holding out at 75%.Best thing for you to do is to see your local lenders, banks and credit unions as they may pre-qualify you being aware of the issues, many mortgage brokers may find later that actually placing the loan will be a little tougher and you'll be spending money up front getting a loan package out of a broker's office to a lender.

Thanks for the welcome everyone, I've already began listening to the podcast while driving, at work, and even during my workouts.

Investing is work, but not necessarily hard work and you can begin right in your own area.  

In watching the foreclosure proceedings here (which are educational/entertaining/addicting) the biggest reason for a foreclosure getting kicked, and having to start over, is if they actually have a trial, and the "witness" for the plaintiff, which should be a rep of the servicer, doesn't have all the proper paper work, and more importantly can not speak to the "accuracy" of the payment history print out and explain their "industry standard business practices, controls and procedures".

If he is any good he should stand by his work and be willing to put his name on the permit.