@Mark FergusonThe one I just contracted for had an original list price of $133,750 with an "as is" price of $133,750 (I save each days download and can go back).

I'm fresh out of grad school, working as a PA in San Diego and saving up for my first investment property.

My wife and I have always maxed our 401k contribution since day 1 of working after college ;)My plan in the next 10 yrs is to have 1 million in stock savings (401k, IRAs) and 1 million in RE net worth.Lately I have been researching new businesses I can startup and sell off.

I have the collateral saved up now to start the hunt for my first property flip, just don't know what steps I need to take in doing this to make means in getting this property or even where to look?

Agreed Bill, Wanda needs to get more education and save some $$.

Some people say to save your money and do it online, others say to use an agent, and still some people say get an attorney.

A new furnace may seem like a large investment but the saving will come back quick with less fuel use, electric water heater dont have the recovery rate as gas and a power vent will run you ( here in ND) approx, 2-3k installed 1,500 to 2000 homeowner installed, a furnace installed (reusing exsisting A/C and duct work) around 3-4k (also in ND).

I know it's a monetary hit, but it can save you from headaches in the long run.

Regarding the 50% rule (and note that 38% will be adequate if you entirely self manage, saving 10% PM and 2% average leasing fees), and what others you know are stating they've experienced: Unless they've really crunched the numbers, I don't think most people really know the percentages, and will guess on the low side.It's not as simple as going to the tax return and taking a look.

I have a hard money loan on the property so if I can pay that off early it would save roughly 5k.