I just did some summer sales and did over 6 figures I put most of it away in a Roth 401k and some CD's.

While it's probably early stage given I am just starting, I figured it would be useful to at least start meeting folks and build those contacts/relationships early. 

Here is the formula to use when considering a deal:First you need to figure out the ARV(after repaired value) which is what the house will be worth when it's fixed up.

You can say "No" to these requests and be on relatively solid legal ground so long as the thing works as expected."

I figured out what my cut would be after my broker took his cut and asked the seller to reduce the price by that much.

It appears the units are below market, however with some cosmetic repairs and perhaps some capex's I feel I could increase the rent by at minimum (based on local comps) 68%.I would offer 85% of list and estimated $20,000 in repairs/upgrades (this is probably a generous estimate - the property appears to be in good shape, basically needs a face lift).With all these figures, including the 50% rule, financing with 20% down @ 3.5%, I come out to a profit of $262 per unit and a cash-on-cash return of 9.53%.So, does this seems reasonable?

I use the phone call to figure out how motivated the seller is and the general condition of the house, and what their asking price is if they have one in mind.But the main thing I want to do in that initial call is set an appointment to meet the seller.

Hello all,I've been reading a lot on BP for a while now and figured it would be cool to post and introduce myself.  

., are you expecting your tenant to stay in the unit while the renovations are happening, or are you putting them up in a hotel?

They typically expect 30-40% down and 10-15% in reserves depending on the risk factors of the property.