I'm a land broker from Southern California, and I'm starting to help a group in Texas who has a unique business plan.

Start with BiggerPockets Ultimate Beginners Guide (free).

Our offer was accepted yesterday, and our five day due diligence is supposed to start tomorrow.From what I have thoroughly studied on the comps, they do sell within a decent time frame and for much higher than the purchase price, although the majority of comps are slightly larger in sqft.

.- Adjusted Purchase Price/ Max Bid: $210,840.80- I start with the 1% rule (thus why I start the analysis by looking at rent) and then adjust the price based on the potential pay-out from a cash-out refi and equity position on the property- more on this in a second. - Potential Investor payout (15%): $242,466 - Rehab total: $76,480.00- I just used $40/ sqft for an estimate.

a first second third and fourth. although for those investing being in 8th or 10th place is pretty poor position to be in. good luck with it.. when you start to be an operator managing others money then you need to step into the real world of finance and how to set them up.

Just started playing around with it a bit...Wish their interface was a bit more intuitive or user friendly.

Since the licenses came into effect last year, my ADR has jumped significantly.

I guess my main concern is, is it worth taking the steps to purchase now or do I need to get more ducks in a row before starting my journey into the REI world?

Every item has a lifespan and collecting maintenance/replacement costs should start as soon as an item is put into service.There are lenders that will provide HELOC on rental properties but they are not extremely easy to find.  

That's why investing is hard, until you start.