In addition to the ~$40 a month profit I make (after subtracting repairs, downtime between tennants, etc), I'm gaining equity, and it's been quite the learning experience.In the end, 40 bucks is 40 bucks, and when I sell hopefully I'll be able to make a profit on that as well.

However, if you can master the art of drawing people into your conversation and making them talk you will gain their trust.

Instead of letting the lender profit off your money why not let it work for you, and now your money will gain an interest of 9%.You can drag out the loan itself and make the ballon payment when your 30 years is up.

Hi Wheatie, thanks for your valuable input.

You aren't buying rental property.You are buying speculation property.Anytime the cost exceeds the rents coming in,you are gambling on gains on property for profit(which i think is insane)Speculation is dangerous

I agree with what nephets said, you may want to look into getting a job that aligns with your real estate interests to help you gain more knowledge.If however your credit is stellar then I would also recommend that you find a local bank and work up a good relationship with a lender there.

Do you have some magic formula for gaining a real estate education without educational materials (of course other than using the internet)?

In the past I have (incorrectly, I now realize) treated fix-and-flip income as short-term capital gains.

i believe that the right property up here will bring substantial gains.

It seems like enough people visit this site daily that it could gains some speed.