Sometimes the deep discussions can be a little overwhelming to begin with.Good luck buying your first home.

My current role invovles analyzing loan profitability, assesing portfolio risk and designing new process/methodology to maximize profits for my employer. i work scpecifically with mortgages, so i have seen and gain a deep understanding on how a mortgage work and the profits behind them. that said, it made me realize that if i couldn't be a lender i could probably an investor or whosaler to maximize my cash flow. i plan to be financial independant by the time i am 45. i am now 32, so i only have 13 years left the clock is thicking!

This is what will drive whether or not you need hard money as a bridge loan.

Once I know 2 or 3 areas I want to farm, my plan is to drive them for vacants, see if county code will give me a list of tagged properties, run a search through the appraisal district to find the owners of the vacants I found as well as any out of state owners. 

I always like to use the following example: "You can buy the best building that is fully occupied on 5th Avenue in NYC or on Rodeo Drive in Beverly Hills but if you make a bet on the wrong person and they run it into the ground then ultimately you will lose your building to the bank and it didn't matter that it was the best building when it was acquired".

You can write whatever protection you want into a P&S but the reality is you are trying to convince a homeowner to let you lock up their property at a deep discount.

We got lucky in that we could handle it ourselves, no major root issues or collapsed pipes, just lots of disgusting backup in the tubs and washer drain sink. 

When you find your first deal you'll have a ton of questions but that's what the forums are for.One last note, listen to the podcasts, every one of them, while you're driving.

Most important for other newbies and/or people feeling down to get a boost or drive...

This extra money helps defer the cost of doing business (ie - Buildium, cell phone, driving to the properties for showings, cell phone, etc.)