Solution: Only close with an experienced closing attorney and always make the borrower get the lender's title insurance.Your collateral (the property) may be worth less than you think - OK, let's assume you definitely are in first position.

In looking at the options you are considering, I’d definitely steer away from taking on debt to stockpile cash waiting for the market to turn.  

It all takes time, it takes time to build trust, to create healthy relationships with those in your industry & market & it definitely takes time to build a successful business.BP is a great resource for information on any type of investment relating to real estate, you just have to look for it for like 5 minutes.

Hi Marvin, most people in So Cal commute the other way, If you are living here house hacking is definitely an option especially if you want to stay in the San Gabriel Valley.P.S.

@Megan AliceDetermining whether or not a property is a "good deal" is extremely subjective, because the definition of a good deal is going to differ from one person to the next.First and foremost, I would ask yourself what you're hoping to accomplish with this property purchase.

I will definitely do some research in your area.

I definitely did not want to backtrack on my offer and lower less but after physically inspecting the property and the neighborhood it was located in, I realized that it wasn't ideal for my investment goals.

Wow, definitely a hoarder house....Get rid of all that junk and you’ll have a better idea of what your dealing with!  

It has definitely been a learning experience for me.

I'll definitely check out the resources you mentioned but do you have any tips for discovering properties, I find this to be my weakest point.