To be honest, it was more difficult than I expected and there was quite a bit of material on the test that was not covered in the class.

This money is taken out of a HELOC.2) Get Delayed Financing at 70% purchase + rehab = getting 70% of 70k, or $49k back. 3) Pay that $49k back to the HELOC to vastly reduce that balance.

I'm brand new to real estate, because I was always told how difficult it is to buy a house, let alone invest in a property, but now I have learned that is all simply not true (I do know it is not easy, per se, but it is attainable with some hard work and diligence!)

@Sundri KhalsaMay investors find it more difficult to cash-flow with a condo because they may potentially have high monthly fees.In general it is hard to cash-flow in areas of close proximity to NYC.However, I find it hard to believe that a Condo is selling for as low as $270,000 in Jersey City.It is in the west-outskirts of Jersey city towards Journal Square?

That way if a lawsuit comes down, at least in my mind, it should be more difficult to reach my personal funds.From another angle, you should have no trouble tracking the money trail in another account if needed, but gets more complicated if you include all of your personal transfers.

The former can be difficult to get in the case of deceased owners, unknown heirs, or just people who have moved away. 

I figured from the get-go that it would  be more difficult for me as a first-timer without the contacts of a seasoned investor and what you all have said confirms it, but I'm in it for the long haul so I just have to look hard and be patient.

As you know, finding good contractors is difficult.

Doing the math isn't that difficult in terms of return on investment but the biggest question in my mind is...is it worth it?

Just seems dangerous with fair housing laws, as really all I can tell from your photo is what race you are.The only time I'd consider a family vs non-family is if the other offer was similar but from some out of state investor group or something, and even then it would be the weight of a single hair on those balance scales.