I don't want to cast any negative over a positive experience.

The deal has to positively cash flow after debt service, taxes, insurance and some escrow.I have found that there are several properties in my area that fit this criteria but it takes much more work to find them.

From my understanding the hard money lender will be in the first position.

Experience managing your own properties would be a plus, but an incredibly resilient positive attitude is also something you'd want to bring to the table.

I would emphasize about your skills (if any) and bring that up.Read up on some creative financing techniques and come prepared to present them in the best positive light.I would say, dress conservatively as you go around looking at properties.

A good carpenter can be invaluable for the futureDon't know about your market but if need be try to be able to be in a position to rent if a sale isn't forthcoming.

Plus you are making 300 a month positive cash flow minus some servicing fees etc if you go that way.

The IRS is even challenging time spent searching for properties; stating it is their position this is "passive" and does not count toward the 500hrs.

I would also be interested in purchasing other investment properties but starting with the homestead would be a good start.I have found some great programs for resident physicians who have secured residency positions but I am about 7 months away from being in this position.

Every deal should have positive cash flow on closing.