I can see real cost of over $25K easily and that assumes utility hook-ups are already ran and are adequate size.

Financing will be much easier with end user/owners involved in the beginning, the speculative nature goes away for owner occupied with any lender.

Naturally, if I can reciprocate any knowledge, I am happy to do so!

. - Depending on your specific situation, DO NOT use a natural draft gas appliance.

Things of this nature need to be well thought out, or you will get burnt out quick.Real Estate Investing is a process when starting out.

Perhaps because the seminars are purposely designed to only deal with a certain part of the asset class and are not comprehensive in nature.

I bet you don't go to a C Corp :)Way up there, is your lender adding back the depreciation as it is not a tax expense but the nature of the tax beast.Consider too, paying down debts increases the net worth, I'd suggest you look for other lenders too, I see it may be limited where you are.You may have a job you want out of, better hold on to that Bar license!

I just sold all my stock to put into real estate so my mind naturally goes towards how to keep the real estate investment.

I have been thinking an initial reserve of say $5,000 would be adequate, but I'm not sure.

If you can show the lender that you have made diligent efforts to sell the condo at an adequate price to cover the debt, but ultimately had to keep lowering the price, their is a good chance they will work with you and you can protect your credit.