Hard money = typically make payments during loan period, may be interest only or interest & principal.Private money = can get balloon loan with total loan plus all interest due at end of loan term (which you obviously pay back sooner b/c you sold your property).

Numbers are as follows:Purchase price - $185,000Rental income - $1,850 ($750, $750, $350)Insurance - $109/MoTaxes - $209/moCap ex - $185/moUtilities - $200moMaintenance- $185/ MoI feel confident the rents could go up to a total of $2350/Mo but current leases do not run out for another 6 months.

Hi everyone,I am working on securing my first deal in the DFW area.

You can secure your next property with a "portfolio" or "commercial" type of loan.  

I do recommend a day to invite tenants back to empty fridges and get stuff before you secure the place.

New York Security Deposit Limit and ReturnNew York state law does not limit how much a landlord can charge for a security deposit.

As it was coming time to pay off the credit card promo, I was also able to secure a deal for another fixer upper cabin for $35K but it needs 10-15K of work.

This is important to show your lender so you get credit for your payments towards your total DP at the time of closing.This will buy you time to get the rest of the funds, and also lock up the property.If you negotiate a longer Option period than from now to 4/18, you will have a longer time to get your funding in place, and get a larger total DP credit.

As I mentioned, I want to get out of the corporate world and would ideally like to be able to do REI full-time using it both for income and long term financial security/investment.  

Probably about most you would be looking at would be to increase the debt to 80% of value, or a total debt of just a million.