In an audit, be prepared to show the income in your bank statements, to validate that you haven't under-reported it.

I got that initial boost of confidence most newbie investors strive for, the decisions I made were based on months of reading, asking questions, making spreadsheets and analyzing properties in that market.The best thing I could take away from this experience is that sometimes being ready to pull the trigger is a lot more than just over coming the initial fear of bidding; sometimes it's about being prepared to do whatever you need to just to have that opportunity.

I started doing this by saying things like this:"Tell me Prospect, if I come down to show you this property and it meets all of your general criteria, are you prepared to sign a contract, put down a deposit and make your first month's payment TODAY?"

Or say "we did this...and it was in this condition when we bought it"3.Do you prepare a list of the work that done along the business card of the contractors /vendors?

Because often times I hear about it taking a few days for the title company to prepare "docs".

Prepare yourself to invest.

I dont intend on walking up to these people and shouting "lend me money" , I do have the funds to service several high interest balloon type mortgages at one time, but I want to be prepared to answer whatever questions they may have before they decide to lend.

Are you prepared to put in a $30K down payment on the $150K purchase?

This is the time period for me to learn up in preparation for jumping in at the end of the year!

Gauruv, I think you mean "remove the contingency" when you say "sign the contingency".If so, then yes, remove the contingency and let them know you're preparing to close, as per contract.