When it's all said and done though, I do most of my deals with traditional brokers.I looked at numerous properties on Roofstock (and with many other well known turn key companies) and I just didn't like the vast majority of the deals.  

As expected there are is a vast amount of great advice here. 

I described to my Mom (a retired RN) what it’s like getting a RO License with the following analogy – imagine the library of information a nurse is required to know, then imagine picking 75 questions at random from that library for your final exam.

RE investors are always preaching not to get emotionally involved, but I think the vast majority of regular folks do (myself included).

Next I'll cover negotiating with the Lender(s).1) If you have never negotiated with a business deal before, I reccommend to go to your public library and check out a book on this subject.

Originally posted by jerry ruday:....it has been in my mind to get started on a business plan and i have actually been making small mental notes on what to include, you just reassured me that i need to get that done sooner than later, but my hesitation comes from not knowing exactly where to start, what to include or how to write a proper and professional business planJerry, look at your local library for this book: How to write a business plan (McKeever, Mike P.) - it comes with a CD, and has as far as I recall 5 pretty good sample business plans.

This fact and the fact the vast majority of investors use the cash method of accounting means that you will have a hard time convincing an IRS agent that a security deposit is not income when received.

@ Jason, You are correct, however most initial loans that are done take up the vast majority of a persons eligibility.

You are making the exact same mistake that causes the vast majority of new landlords to fail in a relatively short period of time.

My library has the audio book so for me the investment in the was zero, however, I am really considering purchasing the new book in it's text format because my fingers are getting numb from writing down notes.