You may also be requires to undertake an environmental assessment of the property by the lender (to prove there are no old USTs or other surprises waiting to ruin your, or rather, the lender's day).Where you can often successfully purchase a residential property without using a buyers agent, an experienced commercial broker will be an invaluable player on your team during the purchase of your first few multifamily properties.Enough rambling ... and I did not even get through the purchase processes ... must take the boy to daycare.

That part is easy, the market is offering .25% to CD holders. 

People will start to recognize the signs with your name and think you're a player in the area.At the open house talk with every guest and get as much information as you can.

Just my opinion, but 20% for a no risk or money investment is extremely generous.By way of comparison, risk free investments like bonds and CD's have extremely low interest rates precisely because they are free of risk.

At this point it isn't legally your house so until it is I would figure out if your trying to save money in risk free accounts such as cd's and savings accounts or to invest in more risky but better returns such as Roth IRA's and mutual funds.

My understanding is that most of the CD was in Florida and Texas.

B-C. D

It's neither a heavy cash flow property like many on BP look for nor a break-even/cash-flow negative property that appreciation players often take.

I plan on putting this income into a savings account / CD, in which I can take out an FHA loan for the second rental property at the right time.  

either in Rehab Costs/Comps/Profit, ROI, Cash FlowI have a short period of time to move a house and it is hard to know who the real players that will execute unless you have a strong solid buyers list.