With your approval contingent on the tenants agreeing to and passing your standard tenant-check process.

I even have them holding off on payment until permits are approved and they may even be willing to hold until project is finished (but the sticking point is the second position they would have during construction).

The biggest hurdle would be getting the approval from the planning department.

A word of advice is to start contacting banks about a mortgage ASAP, as it will definitely be tough to acquire pre approval with only a year's worth of salary.

To get a new meter installed you need to have a 3rd party inspection service approve the service for re-connection and a new meter.

Here's what I do: Once someone is approved, they have 24 hours to sign the lease and pay the security deposit.

Hello Everyone,I'm new to investing, I just been soaking up all the great information on the BP site and listening to the podcasts just trying to learn as much as I can.Well now I just got a Pre Approval for an $120,000 in Orlando,FL.

This is awesome that you want to start doing RE at such a young age.While you wait for the next REIA meeting, you can start getting pre-approved with a few lenders.

The third loan was approved before the first house had even closed.

Kerry,They are brokers that will shop you everywhere to try to get you approve.