Note: if you have a 6 bedroom house, prepare to have 5 roommates.

Consider working with your CPA remotely to expand your options.I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return.

Origination and the 2 months or so of interest before you re-fi will generally total 4% or so of your purchase price, not a bad deal for doing something with very little out of pocket.Understand there is some risk involved, be prepared to manage hands-on and fire people if they're dropping the ball.

Hey folks,I am preparing to purchase my first property and I'm looking at single family homes and renting out room(s).

Maybe I'm wrong, but it's better to be prepared.

You will learn so much and will  be better prepared for the more complex rehab jobs in your future.  

We will also need to find a title company to work with as well as locate general contractors to prepare to receive bids from them (once we get a signed contract back).Choosing a Broker - My wife intends to choose the broker she will be working under by the end of this week. 

I thought it prepared me well for the state test.

Things are good in Seattle which leads me to wonder how exactly is the best way to prepare for the inevitable downturn...

Be prepared to do a lot of title work so find a title company that is willing to cut there cost a bit for the volume.Good luck.