Hi all, My wife and I are new to this forum and real estate investing.  We are both full time professionals and looking to generate passive income so we can slow down a bit and enjoy time with our new son. Currently, ...

Anyway, I have dipped my toe in the water as far as real estate and am ready for a full-on plunge. 

Also, I have never done a rehab for $5K unless they are move in ready.

They should have been there ready to sign when you showed up. 

Getting ready to close on my first property (2 family).

If you want to focus on listings, you could target Seniors with Long-Time Ownership (ready to downsize or transition to assistance) or Homeowners with Low Financial Stability Scores.If you want to be a buyer's agent, consider partnering with a mortgage broker to run some first-time home buyer seminars (or meetups).

Or perhaps is ready to be redone now and is an opportunity to add value. 

So again, the idea is to get the max heloc, not use it until ready to buy an investment property, but also see what a mortgage lender would allow on top of that based on income.

All real estate is local so you need to attend local REIA meetings, any investor meetings you can find on MeetUp.com, local landlord association meetings.This is where you will learn who the players are in your area, how they find deals, how to estimate repairs, how to negotiate with sellers, which attorneys they use, which contractors, where they find deals.And finding buyers when you have a true deal is so easy.

This will definitely be something I look back on when I’m ready to start working on financing.