I still think it is worth it because watching too much tv is boring .

Regardless of the state, you will be hard pressed to do a full gut rehab for $30k.

They don't have to be in your local area, but they need to have done a bunch and need to have systems in place that allow them to teach you by occasional in person visits, by phone, by text, by email, and by skype.In my opinion, you are MUCH better off teaming up with someone who knows what they are doing than you are paying for a one year guru program, for a couple of reasons:1) The cost - I am told these TV personality programs run from $30,000 to $75,000 with little or no hand holding2) They deplete your money, which prevents you from actually investing,  And that substantially slows you down, with the end result of discouraging most people.

You'll be hard-pressed to find 2% in Jax in a neighborhood that is not bad.

Eric, I think you're going to be hard pressed to find someone who's going to say "no, don't get a lawyer".However in my experience it's common in smaller #s of residential units, say up to 10 or 12 units, to use the "standard" (RIAR) multi-family P&S since it does cover the bases for residential rentals.The fact that the financing is "commercial" doesn't necessarily affect the rest of the deal, other than your taking into account different loan terms in your analysis of course.

Ever see the tv show hoarders?

Here's a tip for everyone:What I've done is set up email alerts for less important things of interest to me, and then set up SMS alerts for the most pressing items.

With commercial multifamily rates will be in the 6's and 75% LTV.I think in an appreciation driven market you will be very hard pressed to get your offer of 600k accepted as you will be competing against investor buyers who want to break even almost on the property.You can buy large apartment complexes that yield more cash and value. the question is how much money you have to work with for a down payment will determine what you can or can't go after if you do not want to partner up and own it just for yourself.

Kind of like the flip tv shows.

http://www.lasvegassun.com/news/2012/dec/09/banks-press-changes-strict-2011-foreclosure-law/This article was published in the Las Vegas Sun today.