Make sure you come back and post the progress/outcome so others can benefit from your experiences.

I was very motivated and determined to get back into RE so now 4 months later I would like to thank all the BP members here and happy to report back the progress I have made  in the last 4 months:1st house:  closed July 1, 2016, bought from wholesaler for $113K, rehab $10K.  

The progression is from SBA to conventional once enough equity is there to go conventional.

I look forward to reaching out to the "experts" in here as I progress through my journey.  

Since the crash, this property still did not recover, I also made a mistake back then and got myself tied into ARM mortgage for 10 years which turns into 20 years mortgage after 10 years and interest rate is variable depending on Libor rates, currently it is at 3.5%. 

You'll be a well-informed valuation specialist (not appraiser, but well-informed novice), especially about your local market, in no time (give it 30 days and reassess your progress). 

Doing this progressively building equity along the way to hopefully build enough equity to sign another financing deal using the equity built up from my first multifamily and start all over again.Rinse, and Repeat.I know there are other ways of acquiring financing like hard money lenders, private loans and what not but traditional financing at a low rate seems more feasible for me at this time.

I am following this to see how things progress and what the end result looks like.

I'm not quite sure how this will progress but, you are right, this is a business.

You are no longer in small claims court if you file, your claim is over $5000.00Chances of recovery are basically slim, on amounts over damage deposit but you can try.