I wish you well, simply make sure the area is right, otherwise the deal could sit on the market for a long time and the hard money lender will be the only one who makes money.Lastly, be very careful with the contractor.

However, unless I was to go the private financing route, I simply wouldn't have the capital to rehab a house myself yet.

It's really hard to get an idea of cost without someone actually going out to bid the job (not knowing the size, location, grading for the lot, whether you need to add curb cuts to enter this new garage from the street or if it's from the alley, routing utilities, etc).  

You already have some tools in your toolbox....no pun intended.Now, you simply have to work on the other elements to progress your REI pursuit.Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/invitesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

To be more successful, you simply have to work on the other elements to progress your REI pursuit.

To be more successful, you simply have to work on the other elements to progress your REI pursuit.

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

However, I never have people come to the house if I can avoid it, simply because it's none of their business where I live and there are some crazy people out there.  

Our short term goal is to cut our teeth on a few fix and flip or fix and hold single family properties.

Many agents simply don't know this.