I'm browsed over it enough to feel some personal getting-my-feet-wet comfortability, and all I offer is that you review in detail before you move forward!

I am looking for a mentor so that I can take a look at multuple areas of real estate and find a niche I can sit comfortably in.

The difference being fiduciary duty is owed to Clients, while the duty to Customers is little more than simple fairness and honesty limited to non-privileged information from their client.My (biased, yet sound) suggestion is to find a Property Manager that you are comfortable with, let him know up front what your long range plans are (hopefully you will try his services at some point) and work with him as a Buyer's Agent.

I have a contract but I'm not that comfortable with it.

And if that is the true market rent why hasn't it rented.I'd slow down in your shoes less you find yourself in the ranks of the overextended.

I agree, but ultimately the best investors(not necessarily the good ones)[/i] are the best psychologists, they study human nature and social interactions and after they are done looking at your shoes......they'll look in your eyes and either feel confidence or trepidation......they can basically smell fear and treachery.....So, if you are going to present a deal to and investor...whether is a private, institutional, etc.......make sure you ask yourself the ultimate question...."

I have wanted to get into it for a while, but do to time, funds and a lack of knowledge I have never really felt comfortable doing it.

Your current LTV is between 78-82 which places you in the comfort zone for most commercial lenders, but I assume your market assessments are based upon after repair values and not as is values.

If above average rates don't make you comfortable I would say your not in the right type of deal.The deal is in the buy!

This is a fairly unforgiving business, but with drive, knowledge, and the will to succeed, you can be very successful.While you have a variety of interests, I suggest starting with one and focusing on that area until you become comfortable.