It will also provide you more accurate data to use in your Cash Flow analysis (Loan limit, interest rate, term length).Hope this helps

@Ray HarrellYou are 100% accurate. 

And that's if your comps and rehab estimate are accurate {not likely, as you yourself said you have zero experience}.Your credit is not an issue; hard money lenders only care about the deal, not the borrower.

Rico See I was given 4% of purchase price but not sure how accurate it is.Depending on your lender so $ may vary.$100k purchase with 25% down -Origination charges -$1200Appraisal- $500Title + title insurance -1600Recording fee + taxes -$600Insurance - $??

They typically hold a gathering in Newark on the first Tuesday (I believe) of each month.There are many different areas as well, Newark, Elsmere, Wilmington, New Castle, Claymont, etc.

Do not beleive any title that is on a business card that you do not know for sure is accurate until they prove to you that they are real and trustworthy to you and your goals.Planning is essential to be worthy of what you are doing.

I have invested in other areas to maintain diversification and now excited to explore Real estate.My goal for this year is to save enough and buy a single family home by August 2017.I will try to learn and gather as much information as i could in this time frame.2 Year goal (2019)- Own 3 Single Family Homes and automating the whole process of buying and maintaining properties.5 Year Goals() - Own 10 Rental properties, retire from Job and move to a new city replicating the same process.

The hard part is estimating these numbers accurately.

Can I do that on my own accurately??

PM me with more details of the situation and I will give you a more accurate opinion on whether or not it is your best option.