I am joining this forum to learn as much as possible before making my first purchase and to meet like minded investors in the Bay Area.  

It also sounded crazy to a lady I spoke with at a local REIA meeting I attended last night.

With this goal in mind, I have been trying to seek out people who have similar interests to meet and chat with.

I've actually got a real estate license here in Texas (Home Team of America) that I only use for my personal investments and to help out friends/family.I'm wide open to meet folks, add value to the conversation where I can, and soak up information like a sponge.I'd love to chat/network with other investors in SA who're actually doing deals (not kicking the tires).

You're welcome to stop by our local REI meeting.

So per the original poster, is the first property a bad deal as it doesn’t meet the 2% rule?

If Arizona is anything like Texas all you have to do is check the assumption box on the Texas standard purchase contract.

In order to meet the 25% down payment requirement, we have to consider other avenues. 

My annual vacation rents are 25%+ of purchase price and 3x what a standard monthly rental would generate.

Will try to make it to your meet up next week!