Here are some good places to start: http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

Pick a set of them, the California set or the Texas set, and do that set first.

They gave loans to people who couldn't possibly repay those loans, especially when their adjustable rate mortgages increased. 

I went ahead and did a little bit of digging and pretty much came up with the following:In 36 Months ( just before the 1st ARM adjustment) the two loans will reach the same amount.At this point the loan can jump up to a max of 3.25 for another year.

Glad I had reserve funds set aside.  

Most underwriters and lenders have their own set of rules but generally they all agree with each other.

Welcome to bp @Akiewole WilliamsLots of those homes are most likely in lower income areas The other side of that is there are lots of landlords in those areas that make great returns It's up to us as investors to decide how much risk we are willing to take on Make sure you set up your keyword alerts to Roanoke Also the bp meetup is this Wednesday evening at 645 Grandin colab on grandin road In Roanoke Look forward to meeting you thereGood lucj

As far as reserves, I've got a pretty good cash cushion built up, plus a line of credit in case of a dire emergency.While I haven't exactly budgeted for CapEx, my initial plan was to set all of the cash flow aside in a separate checking account to build up toward replacing the roof, separating the electric and hot water, etc.

I ate oatmeal 2-3 times a day and did not own a television set.  

Most agents are thinking retail price for primary residence when setting a sale price.