I'm studying mech eng at McMaster.

Getting an environmental study completed and obtaining all of the approvals needed from the local municipality before actually purchasing the property is also a way to reduce a potential disaster. 

Study hard and take action!

Another thing you should have before you start is a loan letter from your lender to include a copy of it with your offers to prove to them that you can close that states how long it should take to close you loan and the maximum you qualified for.  

Ideally it will be close to where I live but finding a good deal is proving to be a hard task.

From blogs and formal articles to podcasts, this site has added incredible amounts of value to my life and I look forward to doing my best to return the favor.I studied accounting and finance at DePaul University and was also one class short of a real estate minor.

Yes if it's been rented you can count 75% of rents toward your monthly incomeHowever if it's been vacant this is trickier to prove and may require a appraisal type valuation to figure out what a reasonable market rent is , ect. 

A recent renting study showed that it expects the homeownership rate in the U.S. to continue to decline for at least the next 15 years, which will cause a sustained surge in the demand for rentals.As consumer demand for rentals soars, it begs the question, how will the market manage to keep up?

I have studied and researched real estate investing for the past few months, and I'm ready to get started on achieving the goals I've set.

I have been studying the whole direct mail business.