I like properties with the biggest profit potential personally.

It is important to not be late as new lates have the biggest neggative impact on your credit and yes we can remove neggative information such as lates, bk's collections and chargeoffs bt there is a process and there is no magic eraser that just wipes out your bad credit.

That is my biggest problem right now.

Think 19th century Chicago swallowing up the prairies and birthing the biggest and best meatpacking industries, lumber yards, skyscrapers, public transportation system, department store businesses and futures trading.

It's a huge challenge and the projects will take awhile, but it's a fun game to play!

The biggest mistake you can make right now is paying cash for props if you want that cash back within 6 mos.Even after 6 mos you will be limited to the amount of cash you can get AND the LTV will be a lot lower than you are expecting often leaving 30-40% of your cash locked in that house.Always have a note and deed of trust on a prop when you purchase - not one of your companies but maybe a friend or colleague - so that when you are refinancing you are paying off debt.

I'm planning on having properties in LLC groups owned by a corporation, my hope is that it will limit liability to each properties.The biggest thing i've learned in the past year and a half has been underfunding investments, our apartment complex has cost us greatly from unexpected repairs, thankfully this secured line of credit will allow us to have more than 10 times the expected ammount(s) to rehab each property per time.

Today Wachovia was cobbled up by all powerful Citi (which, weren't they in a biggest of messes two years ago).What impact, if any, would you think this might have on the closing?

It seems to be an avalanche after that.My biggest piece of advice is to stay on top of WaMu and to not give up on getting it sold short.

I do think you would be challenged to find any location where prices don't fall some.I really, really dislike the comparison between PITI and rent.