It is time for me to finally be able to post my first success story.I just finished rehabbing my first investment property, and I’m currently going through the process of placing my first tenant.I believe that my process was a bit unconventional, and may help other first-timers (Either by giving them some ideas on what to do, or if everyone hates my process, what not to do!)

Pull comparables of similarly distressed properties that have recently sold; use a rehab checklist to get a rough idea of repair cost, and emphasize that a cash offer will move closing process much faster.  

The idea that a vacant house has enough equity in it for you (or in your case an investor) to purchase it, paying off the mortgage/mortgages and any an all liens and still have sufficient equity in it makes no sense.  

Here are some good places to start: http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

The idea is that all IRAs are treated as one big IRA when determining taxes on the conversion.  

Skylar,No idea why I did not get an alert when you posted this question 5 months ago.

@Jason Hartley, I read this: http://www.state.nj.us/dca/divisions/codes/publica...Which is where I got the 30 day idea.

If you are planning to rehab to resell and the money will only be tied up a short time, cash is a great idea or you could look into a hard money loan, however those can be extremely expensive.

I have no idea what type of tenant this is yet.