All expenses and gains flow based on ownership percentages. 

The area seems to be a stable economy that is supported by the Air Force Base that is near by as well as some industrial type companies.

As you can see there is too much equity - based on a 30% down on each property I should be able to cash out a good amount of equity and go buy something and repeat.  

The only hesitation I have with this deal is that I THINK it could sell for 580k based on comps but this area is not consistent.

Building a 1500 sq. ft. house would cost $150,000.00  If the developer wants 12%ROI based on ARV he will need $36K in profit, there's also some soft costs, let's call that 12% as well.  

A year later I was moved into a full-time position managing a 100-seat computer-based testing center on campus.

Based off of what I have learned I think the following course of action is the best possible way for me to get started in real estate given my age of 19 years old (aka no credit and little money).

We had our second home rented out before the closing.At this point and after reading numerous books on real estate, I realized that although we had reached our goal of owning a rental, our finances were completely vertical and I need to spread out to increase cash flow and reduce the impact of a vacant property.In January 2016, I started data basing different markets across the USA.

So yes, do be careful, and never judge one group based on your experience at another.

Home of the worlds largest marine base and Joshua Tree National Park.