For that matter, what are the lasting personal effects of foreclosure" - Do not quote me on this but I believe it is on your credit report for 7 years and you cannot get a mortgage for at least 2 years.Hope that helps you a little more.

(At times only putting 5% down in each deal, under a certain ARV)But for a new investor I would use these numbers, and if you get something cheaper, then great. 12% and 2-3 points is pretty standard for someone that hasn't built a track record, yet.

I say that because most people gravitate to FHA because of the low 3.5% down payment requirement but you can get that with a conventional loan which is a lot of times better because the mortgage insurance goes away on a conventional loan once you have 20% equity whereas FHA loans have mortgage insurance for the life of the loan if you put less than 10% down.

However, you tie up your cash in the property and lose the mortgage interest tax advantage. 

. - cashflow - 2 houses rented, overall cashflowing $1500 extra per month (2 mortgage and expenses all paid from it)- debt: 19k student loan at 6.5%, car loan 25k at 2%, 2 mortgages 108k at 3.5% and 314k at 4.5%. 15k credit card debt at...19%Basically has 15-20k cash atm and 5k coming in monthly, so could either wait, pay off all debt or buy another property.Big on Jersey City, and potentially looking at areas like Palm springs / Miami for a vacation/investment property.

If a seller is unwilling or unable to sell at a wholesale price then they have to be willing and able to sell on wholesale terms.Wholesale terms are things like selling subject to the existing mortgage remaining in place.

So glad you've already plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.If you haven't already, I would recommend finding a real estate agent that you trust, and also start talking to lenders (banks, mortgage brokers, credit unions, etc.)

Most loans include taxes/insurance in the mortgage.

However, there is a company in Knoxville that severa people have used - Mortgage Investor Group. 

Or you can go directly to the author, Joe Massey at Castle and Cooke Mortgage