Im excited, however, to be learning actually useful information about RE so it's not horrible.I joined BiggerPockets to follow along on discussions that I can relate to and learn from since I have no experience and don't really know anyone in this town.

I actually have a question for you.

Also, if you have acquired the line of credit but haven't actually withdrawn the funds most banks would still be OK considering that as a credible source of down payment without having the actual found in your account as cash.

Long story short I never got a chance to actually flip a house but a property owner offered me a gig screening tenants for his vacancies.

Are any folks here actually holding back on purchases given the early signs of a slowdown (especially high cost speculative markets like SF / NYC) or is this overblown?

Typically there is between that point and closing (when you actually own the property) there are several weeks or months for due diligence and for financing to get lined up.  

Domenic - 1) Yes the 100K is for the down payment and I will secure conventional fund for the balance.2) Yes the property is turn-key and is profitable already.3) The current actual cash flow will allow for a 15% return on the initial 100K.

@Eric Doss,You should come to MIG's October 2016 monthly meeting.When: Thursday, October 13, 20166:00 PM to 9:00 PMWhere:Hilton939 Ridge Lake Blvd38120@Curt Davis is actually doing the 6pm early bird session about getting started right in real estate.Here are the rest of the month's events.

I actually work with an Insurance broker that I know the owner personally, so i've ran several scenarios by him on this and he says there are no issues whatsoever.  

I am actually a realtor, licensed in both DC and Maryland, which we have an active real estate market and a competitive investor market as well.