Not sure of proper procedure here, just don't want to be inconsiderate given the holiday season so I would like to give them more notice if it is appropriate to do so. 

@Matt Concannon sort of....it's usually 6 months but if you buy it with the proper structure you shouldn't have to wait at all. 

This would take a lot of time to find the right sellers + learn how to execute properly. 

What I mean by that is, if the profits/returns justify the legal costs, then go for it.A general rule of thumb is over 10 investors, it's going to be a security and warrant a properly structured entity for syndication.

It seems vital to ensure it was properly originated.

The loan is based on the ability of the building to generate enough net operating income to cover the loan payment plus 25%.That being said, the lender wants to be sure the buyer / borrower has enough experience to properly run the building.

For my first real estate investment I have access to the funds that would allow me to put 20% down on 2 or 3 $200,000ish Condos.The Condo’s are in good condition and would not need any rehab.Is it smart, stupid, wise, unwise if I purchased the Condos with a 20% down, and rented them out at a proper rental rate (which would be a few hundred dollars higher than the mortgage)???

@Ben Joseph the proper policy is you need is a Non Owner Occupied Rental Dwelling policy, commonly know as a Landlord policy.You are correct in a Rental Dwelling policy will usually have Liability as part of the policy.

It’s to properly manage my property and ensure that my tenants are not hurting property values from home owners in the neighborhood.When listed, I had over 150 people contact me to rent it in less than 4 days.

Just always make sure to vet properly, that mean getting references, viewing pictures of recently completed pictures that pertain to your strategy.