Although a profit would be nice, we'd be happy to just break even on the first one so we could get our feet wet and learn a good deal from it ;) if not possible then we'd look into other options including bringing on another partner.Thanks so much, everyone!

Another option would be commercial buildings where due to the structure of the leases the business tenants are vested in the upkeep of the property.If you are wanting to get your feet wet and merely be a passive investor there are a lot of syndication deals out there where a professional with experience puts together a pool of investors to invest in larger projects.  

We are new to REI and feel one of the best ways to get our feet wet is to wholesale a property.

So enough to get my feet wet without major repairs. 

Every lender has one, with it being entirely possible to be successful with a 5 minute + 1 stock email time-cap.I hate to say it, but if you want more than any individual lender's time cap worth of time (be it 5 minutes or 45 minutes, depending on the lender), you're going to have to cough up the paperwork and get your credit pulled.

On the other, I recognize that $3500 is a lot of cheddar for someone to cough up all at once with another $1600 due 2 weeks later for December's rent.

The best way to get your feet wet is to dive in and see what happens.

You will get an investor rate for repeat business, and continue to get your new lists.Not to be a wet blanket but that is a RESPA violation. 

For those coming back from snow activities, with wet clothes, skis, snowboards, etc. it's a great way to go through the garage into the house, and the cover keeps snowfall off the walkways.

However, if you are still feeling like a wet dog after the last hosing you took then look for a partner that has been successful in the past.