Then over next 2 years you pay down the remaining 70% of the purchase price?  

I would want that question answered before purchasing anything. 

Start with learning how to run comps, how to estimate repairs, how to find deals, how to negotiate with sellers, reading and understanding a purchase agreement, finding an investor friendly title company, having an attorney create an assignment agreement for you, contacting investors to put on your buyers list etc.

Here are some additional activities that count, toward real estate professional and material participation hours.Research market for real estate transaction opportunities; current office market rates; terms of financingMaking offer contracts for properties that you end up buyingNegotiation for acquisition of rental properties that you end up purchasing; including directing due diligence and managing financial projections/business plansObtaining financing for properties that you purchaseProperty inspectionsAdvertisingMeeting with Prospective Tenants/showing properties to prospective tenantsNegotiate, obtain, & review proposals and contracts with vendors (insurance, utilities, etc) for property servicesReview and Negotiate The Terms of Sale AgreementsStaging and Decorating3rd party contractor, vendor, or service provider supervision

I am new to South Carolina and am purchasing a property down in Aiken.

Our strategy is to purchase a multi-family unit that would allow us to occupy one unit and rent out the remaining units on a long term basis. 

Purchase price: $352,000 Cash invested: $70,000 This is my second ever new construction development!

FloridaHi Esther - if you end up going with a commercial DSCR loan to purchase a rental you would need to use an LLC.

I received a 6% return rate, and had a chance to purchase 4 properties.

Purchase price: $215,000 Cash invested: $75,000 Sale price: $410,000 Total and complete renovation!