We plan for our first investment to be an out-of-state turnkey.

I have never owned a home so it will likely be a FHA loan my plans are to buy fix it up and be an owner occupant.

I think Rita is saying that the property would be an 10 CAP at current price: So NOI would be 25k.... if the purchase was 250k if she then sold at the market 8 CAP, she would Get 312k.... 

But it takes years to actually learn to be an effective GC.

I think a great way to begin using BP is to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.And now that you're here we'd love to see you be an active member of the BP community so be sure to set up Keywords Alerts for your local area such as "Atlanta" or "Duluth" if you're looking to find potential opportunities for investing, education in a subject, or other members in your area.

But it really depends on whether you want to be an active, full time investor or invest on the side.

Thanks for finally taking the time to introduce yourself .And now that you're here we'd love to see you be an active member of the BP community so be sure to set up Keywords Alerts for your local area such as "Portland" or "Vancouver" if you're looking to find potential opportunities for investing, education in a subject, or other members in your area.

So that when you odd jobs or smaller stuff needs to be done on the rentals you can then pay yourself to do the work And invoice that LLC which would then be an expense for tax purposes.

I asked if I fixed the place up and refinanced in a couple years would that be an option.

I may consider buying and flipping the note, this is probably not an option as I assume the seller is more of an institutionalized operation, could be a bank, a mortgage brokerage, a servicer and asset manager, but it doesn't seem to be an unsophisticated individual note holder.