Hey Derek,BP newbie here, but I'm already an investor--and in your area too.It does sound like it would need to be a rental, so I would look at either owner financing--which might be a tough sell, or regular financing with a slightly higher price and 3% cash back toward closing.  

This will give me 1) a place to call home and 2) more landlording experience and 3) more cash flow to prove that I am a competent real estate investor.

If the ratio is 50% or less, you can you generally be sure that the area is ripe for flipping possibilities, but these days, finding 50% areas can be tough. 

That loan may be open ended, although I think those are pretty tough still.  

WEll the airplane was a tough one.My point is there are performing assets in every market especially multi family..

Colorado market is tough to find a good deal/cash flows (at least for me). 

I heard Seattle was a tough market, but I'm hoping to be able to find something in my area.Thanks for taking the time to listen to my intro, and I hope to connect with many of you!

Tough to do but can be done.  

Prove to investors that the area will be seeing 25-30% growth in the next two years, and they'll get a preferred return of 10%; if you can substantiate those numbers, they'll be lining up to give you money.Rent the properties for two years, then sell.  

For members to tell you what is best to do with $15k is tough because it will vary to what you enjoy and where you see yourself.