My initial plan was to rehab the two houses and do new construction on the lots.

Also you left no money for repairs (during rental not initial) or vacancies.

So we are planning on 5-10k initial upfront on the landscaping/lights and outside improvements just to get the physical outside area up to par with other complex in the area.

What you want to know is what is the LTV or some use LTC, how many points do they charge, any other fees, and term of the loan, etc.

I have some money put away but wouldn't want to use it all on the purchase of the property.Also add this lender charges 10% interest and time frame is 6 yrs.

How do you introduce what you do in the initial conversation?

That is a great resource I'll be working my way through.Jon Klaus Initially I will be looking in the north Dallas area simply because I am most comfortable with this part of the metroplex.

You might also go the commercial agent route, could do leasing work initially, then sales.

Additional earnest money could be made say as $5,000 quarterly (initially 5 at the contract plus 4 more payments gives them 10% down....roughly).Payments are "paid out of closing" credited to the purchase price and non-refundable paid to you.To give the buyer a warm fuzzy feeling, give them the "first right of refusal" in the sale contract over the contract term.You can also put in the sale contract that it will be extended as necessary for lending requirements, say no more than 60 days, this gives them one year plus to ensure funds to close as any lending requirement to be met so long as they have a commitment.You need to tell your lender that you will be leasing the property as they will be getting a new policy from the agent.

I attended a real estate investing informational session about a month ago and they charged over $2900 to attend a 3 day workshop.