I still gave them all the W2s for the last 2 years (but its part time work before I graduated) and that was sufficient.  

It won't be as much as if you wait for after the crash to buy, but it will still be something.Here is the scenario to avoid at all costs:  buying a property where the cash flow is not sufficient to meet all the expenses, using debt (a mortgage) to purchase it.  

The real components you're going to want to focus on are either maintaining or, even better, raising your credit score, having the sufficient funds to make the small down-payment plus any closing costs, and your DTI (debt-to-income) ratio, which I believe is currently still 31/43.

I'll take option 2 every time as long as it at least breaks even initially and I have sufficient reserves.

Hopefully your HOA is better managed.The numbers definitely show $50/month for cap expense is not sufficient (that is way too low). 

It is simply intended as a token amount to indicate you are a serious buyer.

(List your Post Office Box or your Business address)Tenant(s) agrees that rent monies will not be considered paid until Landlord orLandlord’s Agent receives the rent monies, either by mail or by delivery to the above address.Tenant(s) placing rent monies in the mail is not sufficient for rent to be considered paid,and rent will be considered unpaid until receipt thereof.How Money is appliedMonies received in our office or in person, given to (Name of your company, or it’sowner(s), employee(s) or agent(s) ) will be applied as follows and in this order:1.

If youre just starting out you should consider trying out free services that are sufficient for your needs.

My goal is to derive sufficient income from doing real estate deals so that eventually, I wont have to worry about losing my day job and be able to retire comfortably in the later years.My question as a newbie is about my particular situation and plan: I am 41 yrs with a low six-figure income and I have excellent credit.

First of all, let me say that some of my above remarks seem a little strong and I must have been a little critical as there are several on BP that could do a good job of underwriting I would think, at least sufficient to stay out of trouble.