Recent mechanical engineering grad from Colorado State University, just started my big boy job in May and have been saving 30% of my income for the down payment on my first rental property.  

As someone with an Construction and Engineering Management Degree as well, I agree with Dave and Brad.

I'm a former engineer looking for a career change and I've decided to go head into REI.

@Beverly Rogers and @Ben Leybovich MY FIRST COMMERCIAL We started on the office space simply cosmetic for now and then saving up some monies for engineer and the legalities. this is one of the mistakes of not knowing what you are doing  and not paying attention to formulas and getting into a bidding war with the past owner!

So as long as you reverse engineer it and back into owning a cash flow machine this will throw off great income for the owners..

You will be able to charge premium rent but NOT necessarily have to spend on all the bells and whistles such as crown molding, 42" cabinets (vs. 36") cabinets, real hardwood flooring (vs. engineered hardwood), porcelain tile (vs. ceramic tile), etc.  

@Jarred SleethI'll be finishing the engine rebuild in the spring. 

Amazon is a great search engine!

Being a transaction engineer with all motivated sellers is key to being a REI.Interview the seller.  

I am a student, studying chemical engineering.