Unfortunately I do not have any contacts that would put up a lump sum of money like this either.I am not in the habit of giving up on something, so it is possible that I could save up for my first deal - but of course I would like to get started on this now, as I feel I am ready with the knowledge and drive I have.Any advice would be great!

That is tenant mentality.All that being said, the law is clear that the Landlord Law says  "must make all repairs and do whatever is necessary to put and keep the premises in a fit and habitable condition.

In addition, learning to manage the draw schedule and your cash reserves is vital to staying alive.

My ThinkingUpon taking possession, I'd ask the current tenants to agree to/sign a month-to-month lease with monthly escalations until brought to just below market rate (the house needs a little work, but still habitable).Assuming close by 12/31, I'd structure it as follows:1.

.' :) Without further ado, here are the numbers (I'm sure I'm missing something vital and will update as needed):- Westside Jax (32244), Wal-Mart supercenter 2.5mi, 60k zip population, MSA 1.3 million population- Unemployment 6%, Median home price $85-110k (border of two areas), median income $55k- Rent for 2BR $970/mo, vacancy rate 10%- $315k contract price, $65k seller carry @ 3.5% interest-only, 5yr balloon.- 21 units, 1 unit $200 lot rent.

He even threw out there (by habit I'm guessing) when the next deal would be. :-)I said listen, I could never do that again.

i know this is tedious but that is part if the process to making it a habit.

The bulk of the parking was on the neighboring property, so it became vital that it remain a Taco Bell.

You might need to present only that mandatory repairs for habitable living, then go out of pocket on the rest of the rehab if you want to go more fancy.

They've funded every deal I've sent their way except for one DB that gave me fake bank statements, but they do have a habit of being nonchalant about hitting closing deadlines.