The pipes are almost 7' below the surface and should not be able to freeze, but they have.  

Are you getting yourself some skin in the game on the boom?

I'm looking to make my first real estate purchase this year, despite being a "new investor", as a means of learning as quickly as I can by getting my hands dirty and having skin in the game.

The key is do you have skin to put in the game, otherwise it will be tougher to find a deal to get into. 2nd)  do you have car payments that is eating up your income? 

@Brad Carrier be careful not to over upgrade your rental, you can look at other rentals that are on the market to see what's necessaryFor example:You probably don't need granite countertops for a $550 rentalYour flooring should be either easy to clean (hard surfaces like tile or sealed wood) or easy to replace (carpet)

Killz works well but you must get to all contaminated surfaces.

I'll keep looking, you never know what's going to surface. 

I recently opened a HELOC on my house with same goal as you and am also trying to learn the best way to use it.The HELOC basically allows you to buy very quickly just like cash...so if good deals come up, you have an advantage to get a good cash price and close quick.... then you get a conventional loan for long term financing, but you still have to have 20-25% of "skin" in the deal.You will only get your 20-25% back if you find a great deal or add value to the property and get it appraised for more $$, so you can pull enough cash back out to pay off the HELOC completelyIf you cant do that, you will have basically financed the entire thing...80% conventional and 20% balance in your HELOC that you used as your "cash" down payment

Do your tenants take care not to cut the surface or place hot pans on it?

The dog pee will stay on floor/subfloor very much forever after ripping the surface flooring(carpet etc).