Whats throwing me is seeing some of the rent to hold success stories on BP in totally different areas where you can buy a property for $80000 and get the same rent as Austin where Im going to be paying $200000.

I am starting my business as a wholesaler, and as it grows, I will do fix & flip, buy and hold, & eventually apartment/commercial buildings.I am all excited about this business, because I meet people from every sphere, also being in my mid 50's, I need to build some residual income, to secure my nest egg for retirement.

He left an executive level corporate job to invest in real estate full time because he didn't have any job security.

There are certainly worse ways to throw away your money.If you actively manage the property, the LLC offers you almost no liability protection.

why can't I collect the security deposit and 1st month rent to complete rehab?

We required pre-approval and $1000.00 earnest to secure it.

I'd throw out the "Slight Edge" by Jeff Olson.

Some landlords collect last month's rent instead of a security deposit, assuming they weren't collecting both.

Basement was flooded and, in the pitch black, my phone light didn't quite catch that. 2) After a closing on one house, I was cleaning out the place and was in the garage throwing trash out and sweeping.

You will also not be able to qualify for any type of mortgage or finance to buy a regular single family either.My best advice to you would be to work, get a secured credit card ASAP (or two or three) to build your credit as I did (currently 3 years in with a 780 score) and get a multifamily (2-4 units) and get an FHA loan.