One of your biggest challenges will be separating all the online fluff from reality.EXAMPLE: several S8 "gurus" have already been exposed as frauds, but unfortunately, they sucked in thousands of investors.You're an engineer, use your education & experience to start building up a logical approach to investing in rentals:)Start with this:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Here’s what I mean:When you file your tax returns there are certain deductions that can be added BACK to your income to help you qualify for a Fannie/Freddie type of loan.

That might be an appropriate rent increase, but it is not a panacea for fixing the financial problems with the project.

Due to the appraisal, instead of the standard 20% down on an investment property, I was able to only put down 10% and get a second loan for the additional 10% down payment.

But most importantly that don't want to make a bad loan.

A heloc add another trade line to your credit and can cause issues with fico scores dropping or DTI going up causing issues with credit limits or other risk based issues.Regarding the $4K in closing costs that is pretty much the standard for a loan amount of $100 to $150K.

Material Participation Activities:Property Maintenance: Engage in repairs or construction work on the property to maintain or enhance its condition.Contractor Management: Oversee the hiring and coordination of contractors or handymen for property-related tasks.Tenant Interaction: Communicate with tenants regarding lease agreements, inquiries, or property issues.Property Acquisition: Invest time in property search and evaluation processes, including visits to potential investment properties.Property Management Tasks: Perform activities typically handled by property management companies, such as rent collection or property inspections.Non-Qualifying Activities:Educational Pursuits: Time spent on real estate education or training programs does not count towards material participation.Investor Hours: Hours dedicated to investment analysis, financial planning, or portfolio management are not considered material participation.

@Sheifta Anwar Highly unlikely….banks know they get the best price by getting on the market and most banks are just servicing for the actual loan holders…and they have policies to put it on the market.

Will the mentor co-sign the loans?

I live in Vancouver, British Columbia, Canada, and have recently embarked on my journey as a real estate investor.I aim to build a solid foundation in real estate investing that allows me to achieve financial freedom.