It can take 7-12 months to collect 6 months of rent.The second most helpful thing is that we buy most of our furniture and appliances from estate auctions.The third most helpful thing is Youtube. 

I believe that is why many people become "gurus" in the first place- so they can do more deals and have a second business model all along the way. 

@Ashley RussellHello Ashley,I would second @Larry T. in regards to getting a UPS mailbox.

Question 1: Do I only have to use the proceeds to purchase on the second property or the total equity including purchase price of original property?

I'm wanting to get some work done at one of my properties to install an exterior staircase/patio along with a door on the second level as well as some eaves/siding/roofing work.

Appreciate the info.You are the second person who suggested them.

I sold 11 houses my first year and 30 my second.

I'm only on my second set of tenants.My question/situation is:I rent my old house.

Now I am ready to commit to take action and buy my first property, but could use the help of the BP community.Given the high property prices where I live, and low likelihood of finding a cash flowing property here, I would like to start with an out of state rental property.

I was told if it was a second home we’d get 4.75%, but we do intend to rent it.