Overall - it can be done, but you just need to be really persistent and don't expect the first bank to just roll over and approve you.  

@Kevin SimmonsI think that you would be taxed on your total profits unless you did a 1031 tax exchange where you could defer taxes, and roll your monies into another property of greater value.  

It only takes one property to really get the ball rolling. 

And I got a call this morning from a tenant .   They wanted my insurance info . I am thinking something happened to the house .  So I asked what the problem was .  " We had friends over and you know that big tree in t...

There is indeed a difference :)Let this roll off your back.

I guess if you are selling a house as well you could skip your June payment if you sell in June and roll it into the payoff then close on your new property and not have a payment due until Aug 1 so would have skipped June and July payments. 

I have seen a few other posts about growing quickly and scaling an REI business but nothing that quite addressed the quick tips in an easy to read format for how to get the snowball rolling after your first deal.

I'm so excited to get the ball rolling and planned on going the little money down route.

To further expand on rolling over capital gains - when you buy a new property, it's considered transferring assets into a "new account" meaning it's not considered an expense.

As for the information, We put all the items needed income taxes, income statement, rent roll, contracts etc as a part of the contract.