Being ready to act, saving well, and being open to learn and change are vital for your journey in real estate.

I just look at friends and younger people and don't see the same habits as my parents generation.

I read about this and I think that either way the current landlord is in violation of the Implied Warranty of Habitability.

Unfortunately I do not have any contacts that would put up a lump sum of money like this either.I am not in the habit of giving up on something, so it is possible that I could save up for my first deal - but of course I would like to get started on this now, as I feel I am ready with the knowledge and drive I have.Any advice would be great!

That is tenant mentality.All that being said, the law is clear that the Landlord Law says  "must make all repairs and do whatever is necessary to put and keep the premises in a fit and habitable condition.

In addition, learning to manage the draw schedule and your cash reserves is vital to staying alive.

My ThinkingUpon taking possession, I'd ask the current tenants to agree to/sign a month-to-month lease with monthly escalations until brought to just below market rate (the house needs a little work, but still habitable).Assuming close by 12/31, I'd structure it as follows:1.

.' :) Without further ado, here are the numbers (I'm sure I'm missing something vital and will update as needed):- Westside Jax (32244), Wal-Mart supercenter 2.5mi, 60k zip population, MSA 1.3 million population- Unemployment 6%, Median home price $85-110k (border of two areas), median income $55k- Rent for 2BR $970/mo, vacancy rate 10%- $315k contract price, $65k seller carry @ 3.5% interest-only, 5yr balloon.- 21 units, 1 unit $200 lot rent.

He even threw out there (by habit I'm guessing) when the next deal would be. :-)I said listen, I could never do that again.

i know this is tedious but that is part if the process to making it a habit.