Learn how to acquire properties.

We have a property we acquired subject-to existing financing, so we didn't pay much for the purchase.

But, if it allows you to acquire another property that earns you $500/month again, then you are now making $1100/month total instead of the $1000/month you were originally making.  

How do you normally acquire these properties?

Here is my current situation:Main residence appraised $122,000 (loan balance upon re-fi $75,000)Rehab property appraised $132,000 (purchased at $89,900)Combined Value $254,000Current Loan is $197,000 (including $34,350 construction component)We discussed keeping the mortgage balance at 80% of appraised value of my main residence upon the sale of the rehab project ($122k x.8= $97.6k) The process would encompass selling the rehab property and paying the loan balance to the 80% figure while retaining the difference acquired through the sale of the rehab...

I can only learn so much on my own and I am hoping joining BiggerPockets will help me to further my investing knowledge, so that I may begin acquiring my own investment properties.My main goal for joining the BiggerPockets community is to start building incredible working relationships with investors, so that we may help each others business grow and be extremely successful.

Special assessments or HOA or city related ordinancesAlso, if you did the math, and based on my personal observation, land lording as a means to financial freedom is very long and tedious unless you have some other form of income to break the cap rate on the property, or have some really innovative way to acquire property (but this often in itself needs some level of capital).If you have very little capital, I would save the money (i am generally risk averse), and use sweat equity, like being a realtor or wholesaler to build the funds to invest, then combine your knowledge with things like options trading is where it all comes together and makes sense. 

Flips are acquired with the intent to hold for sale and are not held for investment as required for tax-deferred exchange treatment under Section 1031.

Hi Adam,If you pay all cash to acquire the property (not including the repairs) and can document that it comes from your own account you can get what is called "delayed financing".

It's a nice physical break from playing on the ipad all day...Of course I love all the strategy involved with the financing, acquisition, and development associated with bringing a newly acquired property to its highest and best use.