As a disclaimer, I'm not affiliated with any professional RE organization and I am re-establishing myself since moving to the bay area.  

I was confident enough to offer $10k non refundable upfront as a show of good faith but my partner said that I can go to the casino if I want to gamble :-) Since it is my first property of this size, I listened :-) Also I'm not sure if $10k upfront would have been meaningful.Let's see what happens...Jean

I am not gambling on appreciation, but cash flow talks the talk.

After establishing a relationship I've found they want me to do well and will help out however they can.

There are some advantages to sticking to one market that you know well and have established contacts, however, real estate is local and different markets perform differently giving you an opportunity to hedge your risk.

Is it best to go through a local lender with the thought of establishing a relationship for future deals?  

Ultimately, we (my brother-and-law and me) would like to be able to purchase, renovate and sell-on properties using our own resources, but short term goal is to establish our company first.I found BiggerPockets just by searching the internet looking for real estate networking opportunities.

Since allocation of real estate costs of closing are very regionalized, these costs of closing may be paid with exchange proceeds (or deducted from gross proceeds before establishing the exchange account) on either sale of relinquished or purchase of replacement property.

And for this 2nd property purchase in the future I plan on having a well established career, and spending a lot more($300,000-$625,500) in a bigger city like Miami or Los Angeles.

Now I'm wondering: Should I move out and establish my home as a rental to give me a better debt:income ratio?