I haven't scored a deal like Ned's but I know several investors who've bought houses for $500, $100, or less from people who just wanted to WALK.

@Aaron Montague I got higher numbers because I used a 'good' credit score on the calculator (660 - 699), but I'm pretty sure I'm better than that.

Do some research on the site about the underwriting guidelines (DTI, Credit scores, LTV, etc.) to make sure you can qualify for a loan.Since you're looking to get into buy & hold investing, do some research on the 50% rule.

4-should I pay off some of my personal bills to get my credit score up or use my LLC credit (which doesn't have credit)5-what should I be looking for in a bank when I open my LLC bank acct?

@Eric Gar - First, whatever you do, I hope it is based on defined (and preferably documented) criteria such as credit score, income, pet policy, past evictions, and references and not on age or familial status.

Like the others have said, take this time to educate yourself on how to make good REI decisions before you put your money at risk.Since you're most likely going to seeking financing with the amount of capital you have, I would definitely do some research on underwriting guidelines for lending (Credit score requirements, Debt to Income ratio, Loan-to-Value, etc..)If you have questions, don't hesitate to ask!

AirBNB is simply a more successful version of VRBO , HomeAway etc.I've stayed at plenty of AirBNB places and will continue to do so.

My financials: I make 40k a yearcredit score is 700 I purchased my first home 8 months ago, I currently owe 142k on it.

I want to keep my credit score in tact for future plans of a bigger loan and keep the DTI at a minimum also maintaining my own capitol in case i wanted to get involved in another cash deal.

@Joe Gore That is your version of the right thing.