We both make near 100k each a year and we are tired of our jobs.

I currently own nothing except an old Toyota and some savings from a solid W2 income.

This is just my opinion because in over 18+ years in banking I have had thousands of customers who started off doing fix and flips change gears and then buy and hold. 

Hello Kaleb,Years ago, I went to a Mobile Home Park University seminar, and I remember a very similar question. 

My name is Edward Ajello, I’m 17 years old looking to get into real estate (wholesale) and I need somewhere to start.

Those are easy to finance, and the financing is solely based on the properties income using a DSCR ratio for qualification.I would look for a property like this one, https://www.zillow.com/homedetails/5810-21st-Ave-Kenosha-WI-...Lets say you could buy it for $100k, and its $50k in rehab, and ARV will be worth, $200k.When you do the rehab, make sure all the mechanical systems are brand new, then you will have relative few repairs for the next 3-5 years.I can get you a loan for $90k purchase, and $50k, rehab, once its finished you can refinance into a 30 year fixed rate loan between 6.5-6.8%, and cash flow. 

First it's a very old house (1893) and some of the outlets aren't grounded correctly.

It's updated yearly and is the best $40 you'll spend as a Landlord.

I'm most curious about the 12 month cash out refi requirement for Fannie Mae.Per Fannie Mae, "If an existing first mortgage is being paid off through the transaction, it must be at least 12 months old at the time of refinance, as measured by the note date of the existing loan to the note date of the new loan.

I have been listening to the bigger pockets podcasts for a very long time and have been in analysis paralysis for years.