I am enthralled with becoming a Real Estate Investor and would really like to find a REI mentor or someone who I can "shadow", as a way to gain practical knowledge to partner with the info I've gotten from this forum and books.

If I may, let me suggest that before you take it to a house you are REALLY inspecting, use it on your own place, and houses of friends and relatives, just to get some practice and familiarity.

There are laws on the books to protect people's rights from just the kind of predatory practices that you committed.Regardless of the (to you) sneaky and abusive nature of this tenant you must follow the law.

Scamers are very efficient, and they practice the "funnel theory" - they send out feelers to millions of people and hope to draw 1 in 100 into the funnel.

Doesn't seem practical.

but in La it's easy to get more than 20% b/c of all the damage thanks to katrina. the sellers here are stubborn though..i know a $5k or 7k deal has been done here and there(i'm still working on my first) but, and i don't care what anyone says, wholesaling is easy in theory but difficult in practice..any Louisiana wholesalers on here wanna back me up on that?

But, we could also find things were starting to improve right now.

I have been told…That it is a good practice to give everyone you have gave over $600 a 1099.

Hello,Im Michael House, licensed CA agent but stoped practicing about 6 months ago.

My thumb rules: 2% is a bit higher but I've got mine, which I developed after a while and is still improving.