I have a regular job with an annual income of ~60K and a credit score of 740 albeit of limited duration.My plan is to use the VA to finance, perhaps a duplex that will allow me to get my foot in the door to generate capital that will allow me to do it again, twice or thrice in a year or 2, until I have the capability to pay cash for distressed property.I have d/l'ed all the BP podcasts , purchased the " Book of estimating rehab costs & Book on flipping houses & Inspecting a house by Rex Cauadwell " per suggestions here.By this time next year I would like to be living the above plan and be well on my way to my 2nd property purchase.All comments or criticisms are welcome.

Hopefully at this price point, there are good records of all this information.Thanks to all for your incredible advice!

Plus, the income is mostly passive, and what little input it requires can be done here from the office, so it seems foolhardy to cut of a $52,000 source of income right now, even if it is soul crushing.I'll be purchasing a duplex that rents for $1400/mo for $50k down, $50k financed at 4.25% here in a month (780 credit score).

@Shawn Thom - when evaluating applicants for a rental, you look at the credit report more importantly than looking at just a credit score; OTOH, banks look at credit score and won't give a loan without sufficiently high score.

He was moving out of his fathers house, who cosigned on the apartment because he did not meet the minimum credit score requirements.

The rent and vacancy rate in this area is incredible; however, finding the deals is the tough part.

Today, I realized if everyone who has the experience and financial ability each agreed to help just one person get their first deal AND DO IT AT NO COST like Score does we could really make a difference.

It will allow You to get the knowledge/currency that You need to up Your score the proper way, and learn about such things as "goodwill letters" , proper ways to dispute, and other powerful tools.

As @Jon Holdman said your payment is calculated from the loan amount, interest rate and term.Your interest rate is determined by the factors of the loan (LTV, credit score, non owner occ vs owner occ, FHA or conventional or VA, ect).Your income will be used to see if you qualify once you have a loan scenario.

Then you have to look up your own credit score and I assume provide them with proof of 700 middle score.If you are interested in them, I would just contact them and ask many questions.I do not see a privacy policy on the website nor a way to cancel or back out once committed.This could be remedied with a phone call to them.