If hes a newbie, that could be life changing.I agree that learning to estimate ones own rehab is ideal.

Once we cash out we will look for a small apartment building of about 10-20 units, ideally owner financed.

Hi @Sam Zes ideally you do not want to use your own personal cash. 

so now I am thinking about what my next move should be.....I have found an agent to work with and now I feel as though I need to start drawing up a business plan...My money situation is not ideal....I have tons of credit so I was going to purchase the house using a few different avenues.....my credit card checks, my home equity loan....0 interest for 12 months....and I am going to sell my car which has 10,000 dollars of equity in it.....Which gives me about 50,000 to start with.If I get in trouble I have a hard money lender I can go to.....I was reading the section on creating a scope of work in J Scott's book and I think I freaked myself out a bit....It made me realize that there are a lot of things that go into this ......and then I remembered to ask myself how can I make it happen....so I can relate to all the other newbies out there....I guess my next move is to come up with an exit plan and ask myself whats the worst that can happen and can I deal with that.....I don't have any trouble thinking about what could come of this if I am successful....complete life changer !!

so 9.1% cash on cash is not ideal.

Now what i am looking at doing is taking out a 30 year mortgage on my house for $150,000 If i can achieve a 4% or under interest That would be ideal but i could go higher if needed.

Ideally you want deals with there are plenty of very similar comps.

Ideally, you'd want to be armed with some data before you call them (perhaps what other apartment buildings in your area are being charged per dumpster, per pickup).

684 isn't bad, but getting over 700 and preferably 720 is ideal.

Ideally, ALL exit strategies should make you money and not end up being an "oh sh... solution".