The two deals are similar in price & rent generation (rent is 1.5% of price).The fire insurance quote I received on my first deal was around $650 and in my model I used that same number for the second deal. 

Now I've been told that I can write off many of my expenses, but since I have not generated income yet would those be considered a loss I assume? 

I would really appreciate someone steering me in the right direction for generating leads in Atlanta.

Your money is tied up for no return and you "hope" for a profit at some point far away.Buying a rental property is the best way to leverage your money and start generating income, tax advantage, and potential appreciation the soonest.You're brand new and planning to invest out of state so all of my red flags are going up.

You might consider flipping or wholesaling to generate some income while you build your portfolio.PS.  

It doesn't have to be much of course, but it would really help me in my current situation if I could find one like that.Also what are some good ways to generate leads for agents who are just starting off like me?

I have a job that generates enough income for me right now and this rental home is just a tiny bit of side income. 

There are many opportunities out there that you can invest less money and generate a better COC than the property you are renovating.

I don't think I could even qualify for any traditional financing, as I'm 23 years old and got my real estate license about seven months ago, and I've yet to generate a steady income, but on the plus side I do have an immaculate credit score...Anyway, I plan on buying a condo at a judicial sale in Chicago this month.

From conducting my own research and hearing first hand stories, I knew that real estate would be the key to living a life where I am in control of my destiny, financial health, time, and freedom.Getting started isn't easy as I have a full time job with many questions and lessons to learn, however, in the end it will be worth it as I plan on passing on my knowledge to the next generation and enjoy life the way that I was meant to.It is one small step in my life to stand up and introduce myself to you here in this community, and one giant leap to change not only my life but also those around me with similar mindsets.