@Brett Wells Just to maybe jump in with some practical advice but is "closing on your first deal" intimating that you're buying it or cashing out of it in 2 weeks?  

I am buying a couple property in Indianapolis and my normal inspector can't do the inspections in time.

Every appraisal is only a snapshot in time.  

Can you give one tip or advice for someone that is educated in real estate, knows and buys from the local foreclosures, and is intimately familiar with direct mail marketing.  

Buying an existing property would be your best bet due to a cost efficiency perspective as well savings in time.

I know every person is different... but I'm betting that if you try to wait to do option 2, you'll be looking back at this point in time a year or two from now and wishing you'd just taken the plunge sooner with option 1.

Sometimes sellers think if they string a buyer along and drop things on them at the last second that they will be so far along in time and money that they will have to close or at least be very hard to walk away.

For example, we were going to make an offer on a duplex in McKinney near us (didn't quite make it in time, the seller had already accepted another offer).

However with a foreclosure auction looming it may be tough to get it closed in time.

Because Masterminds are intimate, I've always been invited and invited others with whom I've had a long-term relationship.