I have always had a big passion for architecture and spent many years studying it.

Don't think about your first investment ($50,000 VS $5,000) - think about the infrastructure you're setting in place for all future investments ($5,000,000 VS $5,000) you may make in this country if your research proves to be fruitful.

Tell the seller thismis all anyone will pay until he can prove the status of tenants - and if tenants need to be replaced YOU need to decide if better tenants are available - or this is the type/location of property that only attracts problems.

Like many, I've had an interest in real estate and studied courses for years but never took the action necessary to start a new career in investing.

especially with hard money.just my opinion.hope you prove me wrong

I just told him it wouldn't work out.I guess I was thinking more of when you have a gut feeling that the applicant is fishy but you have no actual basis for proving that without running the application (they showed up on time for the appointment, etc.).

If I told you it would take you 6-12 months of full-time study and work before you made your first penny wholesaling, would you still want to do it?

The rest is study, hard work, networking, etc.

Here are some issues that will get you in trouble, give you a bad reputation, maybe jailed as some "investors" here have been;The SAFE ActTenant/landlord lawConsideration given for a valid contractPreditory lending/financing and transactionsFraud, puffing the dealSo far, while I know you want to make as much as you can, you're headed down the road of scammers, step back, get away from guru strategies and give yourself time to study the basics.

(4) Carrying cost.(5) Non-recourse law of certain states.A FED study points out that (1) and (2) are advantages from tax code.