The process of development, especially one-offs, is so time-consuming that I tend to want that profit when finished because that was the whole point.

Everyone might be passing a deal with a bad cap rate, but if you dig into the deal more you might find that the rents are way under what they are supposed to be or the property is so mismanaged that you can find easy ways to reduce expenses. 

Washington state has stopped paying unemployment to many people because the fraud level is so high that they are paying out an unknown amount on fake claims.

So, with that said thanks for the response and I have no idea why everyone is so hard on newbies if they try something of this size, only one person out of all of this even asked if I would like them to look at it.

Hey RJ - Im also in Somerset County and I also sell Real Estate :) Not sure where you ideally want to be or what your budget looks like, but I myself am trying to buy in Somerville since there is so much happening there and the revitalization is really bringing it to life with so much more to come.Other areas to consider - Franklin Park in Franklin, a lot of building in N Brunswick right down 27 has lead to an appreciation play there.

There is no rule of thumb on number of properties, primarily because property is so diverse.

Their credit score is 0, and now most people go "Dave's system is so broken that these people can't get a loan."

I will say this: condos can be a bad idea because there is so much oversight.

If it is so, I think it could be a good time to build a real estate portfolio since there could be many foreclosures with the possible economy downtrend.What are your thoughts?

There is so much to learn but its exciting i want to get good enough to engage people more in the forums so thanks for the welcome and encouragement