For me, I bought my first property from my in-laws (it was a great deal and value). 

I am a bit worried since I am in contract for another property now and the deposit is important to get the deal closed.

@Jess McLaughlin I'd like to follow up with you as you progress on your deal.

Now you need to figure out how to find deals and pay for them.

The S.O.T.A program works well, and is a good option to get a tough to rent vacancy filled if you invest in a low income area.The process of getting the deal done with them is pretty simple but pack your patience though if you get a bad case worker, you'll need it.

Interest rates are often a key concern for real estate investors, as mortgages are often the difference between a cash-flowing deal and a dud.

'Need to find the first deal' - they are everywhere, are you wanting someone who has done all the work and effort to provide this first deal to/for you? 

Hello Agustin, I've closed a lot of deals with the Kaplan, DiTrapani (and theres another name I can't remember) firm. 

Find sponsor(s) first, deals second.

However, my review of several potential students' housing deal in Arlington TX 76013 zip code gave me negative numbers with Biggerpocket's calculator.