Hello all,
Ok I am a newbie and haven’t gotten my first investment yet. I have looked at 25 houses and put several bids (unsuccessful), but nothing yet. I was looking for something under 100K to shoot for the 2% or ...

Didn't dig into ownership history too deeply, but there were a lot of bank-owned MF properties trading at that time. 

@Jon Maroni I think it makes sense to either cash out equity or to sell the property and trade up using a 1031 exchange.

@Jeff NevesWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

Don't pre-emptively make decisions on financing until you know what the preferred out come is.  

You could always get a years rent under your belt then make a decision. 

So I made the decision to apply what I’ve read in “Rich Dad Poor Dad” by Robert Kiyosaki to get out of the “Rat Race” and no longer work for money but let my money work for me.

The tax is based upon the helpful decisions of the legislature in Springfield and the sales price of the property.

Sorry , I am a bit new to this and learning the tricks of the trade.

And choose wisely with important decisions like how much to stock up on 9mm, .40 cal and 5.56 to protect the homestead when things sour.