I have a few years left on active service where I will be trying to balance furthering my real estate knowledge as well as setting myself up for exfil out of the Navy. 

Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!

It is a different balance but doable.

Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!

Our initial application gets their current residence, how long they've been there, landlord contact info, employer, salary, how long they've been employed there, family size/status, pets, cars (years and type), whether they've ever filed for bankruptcy, had a felony conviction, owe any outstanding balances, and other similar information.

@Frank LeoneNormally, money has to be seasoned 60 days.If the deposit is greater than 25%-50% of your income, you'll need to explain the sourcing.Banks have other ways of looking into your balance besides what's currently on the bank statements.As an example, if the average balance says $500, but you have $50,000 sitting in the account, it's obvious that something is up.

Flip a house or two and pay off the balance.

@Michael EalyYou bought that in 2011.I know I could post multiple similar wins for you that I had in Florida in 2011.But I won’t bore you.You live in Cincinnati.I live in Jacksonville and bought my Cleveland buildings in the past 18 months.Read my blog again and then read @Jay Hinrichs comments above.We are trying to inform newbies and out of state investors, not savvy locals like you.The post is not to say it’s absolutely impossible to make money in Cleveland.It just points out blind spots that’s often papered over by local stakeholders who sell Cleveland and cheap Midwest homes to uncanny out of town investors.Information doesn’t hurt.Especially if it’s open and balanced like in this forum where it’s free to hear both sides of the story.I hope you get the difference.

These differences help us balance each other out and make great decisions!

It's a tricky balance sometimes.If you do decide to go down the HM path, make sure you find a lender who is interested in your success, is willing to work with you if things go astray and doesn't judge you based on your credit score.