I did have another thought which was to try to find a multi unit ASAP around 75k, maybe a distress sale that is already rented and try to live off the income and leverage that if things take too long with part 2.My wife is 'risk adverse' to put it mildly and is very nervous, I am too really.  

Does anyone else get nervous when they know they are going to be looking for a tenant soon?  

Would you be nervous to buy the larger one because of the size and possibly narrowing the rental pool of families looking for a house that size?

I need slightly urgent advice.I placed an offer on a house last week, and now I've had the inspector in as well as one of several contractors to get estimate for needed stuff.I got a great price on the offer I think, the inspector is also a structural engineer and he said he thought it was a great investment property.Issues include:-mold-basement moisture-main roof OK, but some patches needed-front porch roof & detached garage need replacing-boiler bearning bad-radon (4.6)That's all before interior fixes like plaster (from all the roof leaks), new carpets and interior painting.This is my first deal, and while I'm not afraid of all the work involved, The estimates are getting close to my bottom line number.I'm starting to get nervous that the rehab costs will make this unworkable...and I really want it to work.I have been an excel spreadsheet (Property Analysis Buy & Hold) and have plugged in a LOT of numbers, including a rehab number up to 40,000...and the property still gives me a 5% Cash on Cash return, which isn't bad, and a cash flow of anywhere from $100/month for lowball rents to up to $1000+ cash flow for top number rents inline with the area for a nice place.The advice I'm looking for is how to figure my bottom line offer.

Well, my very first property ever I'm excited and nervous all in one.

I have not done any house maintenance myself and the idea of it makes me nervous.

While I definitely see the merits of owning property in a market with so much growth, I'm nervous about the amount I need to begin investing -- I don't want to make a stupid mistake with my first property and be on the hook for half a million dollars when I could have began investing in cheaper properties elsewhere to gain experience.

I just am nervous I will pick the wrong area or the numbers won't work out. 

Since I'm only 21, I am a bit nervous about starting out as I fear people will not take me seriously.

I'm just nervous about how it would do in a bathroom.