Real estate investing has always been a pivotal component of my long-term career plan, and I'm finally ready to take the plunge into my first deal.My goal is to have deal #1 in the books by the time I graduate in May.Thanks to everyone for sharing your stories, lessons, and experiences over the years.

The cash flow analysis is the easy part - the operations are pretty straightforward as well - but you've got to get a good grip on the components.

@CL Tumlin ,Depreciation as @Dave T said will be prorated for the number of days in the year.Unless you initially segregated out the costs upon purchase between the individual components of the home you will continue to depreciate it over 27.5 years.

Doing that you will have to give up some of the deal.Why don't you just go for an existing property with a value add component or something fully performing.

Funding was not a primary component of the program, simply an afterthought.

The credit is $2,000 for a dwelling unit that is certified to have an annual level of heating and cooling energy consumption at least 50% below the annual level of heating and cooling energy consumption of a comparable dwelling unit and has building envelope component improvements that account for at least 1/5 of the 50% reduction in energy consumption.

So the year where you have one of these, your expenses will be higher.Another way this is crude is that it includes a significant component for property management.

Typically when you're young you can't afford an expensive policy so it's wise to at least get term insurance, but when you get term insurance I've learned that it's best to make sure it's convertible to a life insurance policy with a cash value component.

Every single component of buying a turnkey can be checked on with some easy due diligence.

Get J.Scotts book on rehab costs, time lines, and order of doing projects.The order is cruial on some of the key components.