Anything you buy and finance, like a boat, should be half down and financed to be paid off in 18 months no more than 2 years.Unless you have a huge student debt thing going on or supporting your parents or have medical bills that are not disclosed, you don't need to do anything but tighten up your belt.

The more properties you get the more you will want to research and pick a property management software that charges a monthly fee, but make sure you have some more properties under you belt to offset the costs of the software.

Of course not, but it is a lot harder when you are just getting going than once you have some deals (retails) under your belt or rentals.

I looked at some of the lower income near west places as well; but that area is getting a little too hot for a newcomer to play ball : )I haven't been to any REI clubs yet, primarily because I'm really new to this whole thing and was hoping to get some homework under my belt prior to showing up at a club and being clueless when RE terms are used.Nate

I'm guessing that one cost me about $10k...I say this...do NOT do an SLO till you have at least 12 months or 12 LO assignments under the belt IN THAT AREA....Sub-2 and SLO's are fine, but not for the newbie...IMHO...Also..

.- The one maintenance issue was an HVAC blower motor that needed replacing and they also found that the condenser was low on freon at the time. 

I have an XBox 360 so he can play games like his friends (got it refurbished for $139.00 which included 6 games woo hoo and I really had to tighten my belt for that one lol).

So we have the freedom to go look at properties and have access to impertinent information about the homes to help us make solid decisions.Also I am networking and trying to find a private lender that I can partner with to get experience and once I have 2 to 3 flip properties under my belt, then I will go talk to portfolio lenders, with my plan in hand and numbers to show my experience.

If you don't have a good grasp on real estate you need to get that under your belt, otherwise I think they call that down there as "a big hat and no cattle".

I have over a 100 units under my belt because I live this way.