Definitely get the estoppel letters and copies of existing leases.Apartment complexes change hands frequently (if judging by the "under new management" is any indication) and I can assure you they don't kick everyone out and start from scratch.

@Giles D.Lane I believe is a frequent contributor here on BP - I believe he changed the name of his company to the wealth elevator.

My son is going to FSU, my wife will be making frequent visits there because he is her baby ;-). 

Lenders will want to know you have a game plan for monitoring a project and being on site frequently especially when it is your first time.

You'll save on realtor's fees.One thing to remember is unless you are flipping, selling a rental and buying a new one frequently is going to lose you money. 

The typical issue with SE borrowers with Conventional/Govt loans is that most of the tricks that reduce your taxes also reduce your income, which is what's used to qualify you for the mortgage.

To get the full effect of how I first saw it, I'm going to have to ask you to imagine a raccoon sitting up on top of the bed.One thing I've frequently told folks is on these old, low class properties, if you need a home inspector, this is not the right property class for you.

I’m frequently asked by new investor hopefuls how to get started in real estate when cash is light.

I would hugely appreciate any suggestions, tips or tricks!

Calling frequently and being respectful when you do so goes a LONG way to speeding things up.