My prediction is that the first few projects in this article will become very successful, but those who finish later will be victimized by the economic cycle.  

That is when I find out, that Sheetrock is incredibly heavy to lift. 130 Sheets later I am exhausted beyond belief and have hurt my wrist and all we managed to do was get it in the house!!

@Nicholas V. probably late a year later but for others: Yellowletters.com also has a platinum card for around $200 that gets you 15% off for 6 months.

Sacrifice now and it will pay off large, later. 

If you decided later it did not make enough cash flow to make up for your troubles, you would need to sell for 10% more than you purchased it since you have very little equity into it.  

The considerations to an option granting a optionee (buyer) with the use of a location, amenities, perhaps the potential of changing zoning or making improvements where a property may later be sold at a higher price. 

Why not take the opportunity and learn the ropes sooner then later.

Short term, I would like to learn more about the entire process so that I am more informed as I go to buy my first property later this year.Thank you to all the members for the great, informative posts.

So my question is this, how will buying a (non owner occupied) rental property first, impact buying a primary residence later (hopefully in a few years) with a low percentage down or first time buyer type loan ?  

I bought it when I got my first rental and then I bought an updated version five years later.