@Jeff SchaferI don't think this is going to have any drastic effect on the market, as these rules have already been enforced by majority of lenders. 

I would just like to know how everyone else started off, as the chances are a vast majority of people reading this will have once been in my situation.Any advice on what i would need and what options are available for people my age would be greatly appreciated!

@Mike Osterman I'm looking in several of the stronger south and southeast markets, but my primary focus is on the major Texas markets. 

You could do a paint only flip and have it back on the market in a month or you could do a major addition and target March or April.

For me personally it is 3 minutes to Red Rocks Open Space, 5 minutes to Garden of the Gods, walking distance to Bear Creek Park, and 15 minutes to all the other major trails.

I answer the inquiry call, send out credit and company info applications, approve and bill at the end of each month after someone drives through to verify number of trucks.

It's somewhat difficult to do in my market because the majority of the subdivisions have strict 'No Solicitation' rules.

Having been through 2 market corrections, I too am looking almost exclusively outside the major metro areas as pricing in places like Austin has gone well beyond market fundamentals. 

Usually the credit is very small and only for major items like stolen pipes. 2.

@Jacobo B. that's what happens to the majority of them here as well.