. :)Finally -be sure to setup some keyword alerts - especially for "Elmwood Park" so you can jump into local conversations.See you around the forums!

Seems pretty straight forward however I personally have never dealt with preapproval .

Set up a keyword alert for your area and interact with the other people in your area as much as possible.

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

Pull the comps for 3/1s (and/or 3/2s) in the same exact area to see what kind of uplift you can get from the renovations, and then estimate the cost of the additions and see if it is a net positive.Clearly a 3/2 would be much more attractive than a 2/1, but it should be quite straight-forward to do a cost-benefit analysis.

You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other North Florida investors).Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in. 

However; many that don't, do have keyword alerts set up or follow forums/topics, therefore; if you post your questions in the proper forum, the chances of it being answered by someone interested in that specific topic are much higher. 

The basics of the process is pretty straight forward:  Get pre-qualified as a borrower for refinancing to see how much you qualify for and what the terms will be.

They are both great at learning the fundamentals.Oh - and if you haven't yet- be sure to setup some "Keyword Alerts."

Be sure to set up some key word alerts to get the most out of the site.