Basically I have to use my current capital to build more capital otherwise in the near future, otherwise I will create some monthly cash flow but end-up putting myself out of the game for 2,3, 5 years.

Both fridge and the stove are basic model domestic stuff.

If you have a great deal, you'll find more buyers than you know what to do with.Focus on finding the deals.If you find a truly great deal and can't find any buyers via basic means like REIA meetings, Craigslist, the MLS, bandit signs, etc -- then it's probably not a great deal.

rentometer.com gives a basic idea.

They may be getting a lot of bogus pre-approval letters that some loan officer just types up on company letter head which is basically as good as toilet paper.

He said that basically if you are a single member LLC and you are managing the property yourself you will have a hard time proving you aren't personally managing the property even with the LLC as manager.

Most likely more, but starting off small would work best for getting my feet wet.I am leaning towards rental properties which would be basically move in ready.

Basics...who is the seller?

I believe that I need to pay back the tax credit since the house clearly is not my primary residence, but I am struggling to figure out the best way in which to do this.I don't know all of the rules for this, but would it be possible to amend my 2010 return to pay back the credit then (basically as soon as I got it?).

Here are some basic numbers to give you an idea.Purchase price of 65k, with 175k left on the notes.