I'm interested in learning all that I can; learning what things to look out for, how to properly asses a deal, how to find good GC's that won't rip me off, multiple exit strategies in case something goes awry, information on taxes and benefits of an LLC, possibly finding a local coach/mentor that won't charge me $25k...pretty much everything I can learn!

You can have the support of a team, a local mentor, and all the tools and training you could possibly want without ever needing to step foot in an office, commute, or pay desk fees.  

What are your thoughts, any and all help is appreciated.Tyler,The best advice I can give you is to find a true Real Estate Investor and mentor/learn from them.

I am also immediately suspending any further activity in real estate related spaces, including mentoring, coaching, commercial project development, etc.  

So I found a mentor on Craigslist turns out to be a broker also.

Majority of the new people come to this site looking for hand outs or a mentor to show them everything and when no one does they get dissuaded.

Here is an example:Find a deal at 50-60% of ARV, tie it up, utilize equity in another asset as a collateral assignment temporarily, spend 2-5% of ARV to fix up or retenant the property, then receive up to 75% of ARV back (cash out refinance) thereby "netting," you cash back ,  allowing you to acquire a property, and provide you cash flow (depending on your market).This would be a 0% down deal or negative down deal since you're getting cash back up to 75% of ARV.Yes you need collateral but, not necessarily since a more experienced individual with collateral or high net worth person could assign collateral on your behalf (perhaps a mentor).So by combining creative techniques, your own or assets of others, deal finding ability, and knowledge of the banking products and how to converse with bankers you could create and print money out of thin air (well you do have to invest your time of course).

hi frank, based on conversations with my mentor,  it's good to put something down to show intent even if its only $10.

Every thread I've found where a REI new to Lease/Option is requesting forms,contracts,memos,etc. etc. to do these types of deals, some REI Guru half a$$es the answer to the question and pitches his Coach mentor program.

thanks for all the great feedback guys i will definitely keep them in mind. to answer some of your questions though, i'm looking to invest in buy and hold properties. cashflow is my #1 priority. also, in terms of financing it i would either do a conventional loan or private loan on top of what i have saved up.also, is there a section on this site where i can find potential partners and or mentors?