If you keep a healthy reserve you will be prepared for those expenses and you'll be fine.

If you're pretty solid you get a better rate, if you're lacking in several areas, you pay more.In an area of a tightening market, it's almost impossible to find deals healthy enough to pay HML's.

Your agreement with the company providing the reports usually states that you are not permitted to give copies of consumer reports to the person being screened.

Now, in some areas it can get nasty, time consuming and if the deal isn't that fair or not in compliance the court can do a cram down, write down the amounts due, so a lender can get tagged. :)

The DFW economy is healthy and growing along with the area population.

I carry no consumer debt and still have my day job in which I can work essentially an unlimited amount of overtime to come up with quick cash.

I was told getting a variance will be difficult, time consuming and will require approvals of the community board.

I know in CA recent state laws designed to "protect the consumer" have made it nearly impossible for mortgage brokers to work with non-accredited trust deed investors thereby, in my view, releasing them to fall victim to real estate investors preying (wittingly or unwittingly) on the unsophisticated.

Could anyone to share with experience on this kind of investing and give an idea how long time it may consume to get in the field and see results?

I am looking for something that really gives a reasonably good cash-on-cash return yet is not too time consuming.