Going out of state for your first investment is a bold move.

All the money printing has caused serious distortions in the economy, so what we have now is a lot more risk than what may be "normal"I don't pretend to know whats going to happen but the landmines on the economic landscape are real and significant.

If you are new, go print out a market specific spreadsheet for estimating repair and material costHope this helpsBest of luck

I highly recommend checking out Shane Woods post titled "A TX Real Estate License Journey', it has really helpful information about finger printing, submitting broker paperwork, etc....just the whole timeline on when you should do what. 

Then either take a picture of receipts and save them in a folder, or print them and keep in a separate file. i personally wouldn't invest much into quickbooks or a third party- it's very easy and cheap in excel. 

The best thing to do is keep your print runs low, try a few different designs and see what works best for you.

might i be so bold to offer an opinion while being such a newcomer here ...but its kind of funny how you can read "not to touch a hot stove" 100 times and still burn yourself.I think the majority of "experience" is gained from "doing" and not "thinking" .... unfortunately, experience is typically "bought" from making mistakes.At the same time, I'm not saying to rush into anything (in life) blindly.

If you get the property at a very good deal you will have to have different disclosures to cover yourself.You would need to disclose you are an agent and also it would be a good idea to have them sign a print out of the comps so there is no question that you have taken advantage of anyone.Lastly, if you are an agent then you need to hang your license with another broker and work under them. ie Prudential, RE/MAX, Coldwell Banker etc.If you have a Brokers license you can be on your own.I hope that helps with your questions.

:lol: I want to share a short story...Back when I was in college I worked as a "consultant" to a small pharmaceutical printing company (they print labels for pharma containers).

Just printing the envelopes and letters on my home printer like I did last time.