I also flip cars as my primary source of income,  so I figured it could e a website where people could sell me their cars or their homes.. 

It was never a "rule" it was simply a calculation that fitted good deals at that moment.It is no more valid than saying you should never pay more than 2 grand for a brand new car.

I have another schedule (C, D, E - cannot remember which one) and a Texas franchise tax return.

Hello all,I'm brand new here and wanted to start off by posting in the discussion board right away. 

Hi Nicole,There is a lot of information about you and the deal that are not in your post but I would suggest that an 8 unit coupled with college rentals may be a bit much for a brand new real estate investor.Yes, you have to jump in and get your first deal under your belt but my feeling for new investors is to start small and safely add practical experience to your educational process.

I have been using e-renter.com and icheckcredit.com

I just read a great book recommended by many called e myth.

You should put up plain white bandit signs that say e Buy Houses, Quick Cash Offers with your number. 

I am brand new to the pre-foreclosure market.

Some people ignored that and still called or e-mailed asking to "see it today," but most did not.