Meaning, can/are you able to fully finance yourself with the funds from REI (able to pay your own medical bills out of pocket, savings built up enough so you don't need 401K, etc.)I just don't know what to expect and It would be amazing to get some insight on it so that I know what to prepare for.Thanks BP!

You can save money by mutually agreeing with the tenant to end the tenancy and their voluntarily moving out.

2) I've learned a bit about how to ultimately structure things so you can keep the assets out of your personal hands (LLCs, etc.) but the thing that isn't discussed much is how do you actually get the money into your hands.

We are saving cash to have money for a 20-25%down payment as well as to have enough in reserves for anything that comes up. 

Learning all of that ahead of time will save you a bazillion headaches and potential financial strain later!

He wants his security deposit back so he can pay it to the next landlord to get a place to move, if it's low income, you gotta realize most don't have savings and he wasn't planning on moving when you bought it.     

Instead, save the cost of doing this work, rely on the 1 furnace in place, pay for the tenants' heat and try to recoup the costs through higher rents (heat included) or try to bill it back to tenants somehow (e.g.

This is ultimately defined by FNMA and HUD who rule over everything when there's a lender in place. 

Bear in mind, you will save a considerable amount if you are able to do the work on your own.If your not comfortable making a call on the ARV, just ask an agent.

My husband and I are still in the “education” phase of our real estate journey, but we plan to buy our first propert no later than 2020 - quicker if we can save up capital faster than projected.