HI My name is Siddeeqah, I have been a member on here for over almost 2 years and I was afraid to get started on investing so this year I jumped feet first and got started.

The property is listed LP: $219,000Rental Value: $2,000/month (Seller claims $1,000 from unit 1 and $1,195 from unit too, but I am beign conservative)Tax: $375/month [$4500/12; ($4,076 estimate according to dallas county, ), I am rounding up)Insurance: $170 (Going with Seller's numbers for now)Principal+ Interest: $900 (Based on 4.5%, 30 yr and 20% down)Warranty: $50/monthVacancy: $160 (Assumed at 8%)Misc: $100Cash Flow: $2,000 - $1,755 = $245If the total investment is $46,000 (20% down + some closing costs), then Net Return is 5.3%?

They make buyers go through rounds of bidding over 2 months to try to extract the highest price or play the buyer against themselves even if they want to accept that buyers offer.Frankly I run across quality commercial brokers and then I run across scummy ones who will do anything to close a deal and give the profession a bad name.

I've learned some important lessons that should pay dividends on the next go-round.  

@Philip Williams way to jump in with both feet.

For a house under 1000 square feet, a new furnace, including installation, might run you between $2000-$4500. 

Brand spanking new to real estate, just got my feet wet, feeling on top of the world right now

I am cautiously excited because of course I want to "get my feet wet" in the business, and this might be a niche for me since I have no money yet (but a full time job with a steady stream of income).We also have the option to live there for a few months to save money.  

Most VR landlords make the bulk of the years money in March, April, and May but there still is business year round.

Just closed on a great deal, small old run down house on 2 acres but the water source is from a year round spring that needs to be made potable..I see on the Home Depot site they have a Well Water Filtration System for around $1200, not knowing much about spring and well water, would this be all I need to make it potable?