One last point, I don't know if I should dive into an emerging market with no experience.

@Blake Edwards I guess it works here in SoCal too you just need a much deeper pockets, adding a few zero to everything.

I’m ready to start diving into real estate investing, I’ve been able to pick up some different schools of thought looming through bigger pockets.

If you settle on a price then tie it up with a contract right away and put down $100. for your option fee if this property allows for that and then you have nothing to worry about but loosing $100. but gaining a lot of experience in working through the fear of diving into your first real estate deal! 

The cash on cash return isn't the best, but it was a strong enough deal for me to dive into investing.

I'm one of those college dropouts who took the dive head first into the world of Real Estate Investing and now I'm a 1/3 of the way there.

I've been considering getting into REI for a long time and just made the dive into educating myself this week.

Take your NOI / Cap rate = Purchase PriceFor example: If the cap rate is 5% then $23,794/0.05 = $475,880This is what the property is worth, however, you should dive deeper to look for value add opportunities.If there is any deferred maintenance or major capex items needing replacement soon then I would negotiate a slightly slower price, but also bring in enough capital and reserves to make the necessary repairs.

You guys will hear about this deal more when I tell Brandon and David all about it in the "deal deep dive" 5 years from now ;)

Everyone want to know about how a leap of faith turned into a swan dive into affluence instead of a belly flop into broke.