Hello Timo,Let me emphasize what Ryan has just said.Begin your new life in real estate by getting counselingin debt management and money management.At first that seems counter-intuitive.

Bank countered with 175K emphasized AS IS in the email.Sense I had access I did a thorough inspection came back with 155K offer and I would accept all of their terms.

Although there still are deals.At the Roseville Meetup last night (which EVERYONE here should be going to), @David Oldenburg went over some sample deals members of the group were doing and emphasized the point that while deals are on the MLS, you need to approach real estate investing like a business, not a hobby.

I have a college degree in business that emphasized real estate.  

I have gotten a college degree in business that emphasized real estate.

Emphasize on things that make you property unique.

Sometimes market conditions can limit buyer negotiability, but overall I try to emphasize focus on repair items that would be of concern to any prospective buyer/investor. 

@Junior Picanco    I can't emphasize enough that you should look at the link @James Wise  provided to you in his post.

I will echo that and also emphasize that it is best not to have tenants do any repair/remodel work on the rentals they are living in. 

I think it should be emphasized though that holding four balls in the air if times get tough is much harder than one free and clear property.