Steve Babiak you're correct, I miss stated I was meaning in the sense of owner financing and having a note that would be producing income to the seller, since her concern is the possibility of losing her tax credit.

Some activities are time occupying activities and don't produce cash flow to cover your overhead.

Any opinions as to whether these types of properties appreciate long term as well as other income producing properties?

When dealing with income producing real estate (multi family) how likely are the banks to give loans on the basis of the income potential of the property and not the investors credit score and down payment?

You can check out http://www.tcso.org/tcsoweb/Auctions.aspx to see what's up for sale.There are some good bank owned deals in the Tulsa metro area and I've heard from several other investors that the sheriff auction is starting to produce some good deals again.As far as mentors, you would be surprised how much you can learn just by hanging out at the auction or a real estate investing club.

excellent choice...Mine came on board after reading 'The Millionaire Next Door'& since then everything we own is paid for & producing excellent returns.90% of MY success in this business is having an understanding, committed wife.

While low money down situations are possible, they rarely produce any significant returns.

But... if you're working with a community bank it might make you help the argument that your debt is producing cash flow.

Knowing how is not a time saver nor does it produce a quality job, that takes practice to hone skills. :)

I have all the normal concerns about getting started and wondering if there is a property out there that could produce income for us, and I'm curious about how to handle maintenance/labor without putting extra stress on my spouse or taking too much away from our busy family life (he doesn't want more on his plate.)I am interested in all kinds of properties, but mostly want to have a good first experience if we decide to take the leap -- it will be so important to show that this can work.