Go out and find the best deal you can.

Just asking as a novice person reading this trading naked would be a risky bet.Since the volatility is so high, spreads are pretty fat right now,but don't know when it will drop to grab the premium ;)----For the other answers,  we are in an unchartered market.

If you are concerned about the turn, buy fat deals.

If he ever leaves, get what you can in damages, fix and hope for another long term tenant.

Hi Renee,If you income has been below the IRS filing threshold amount for some time, and the $300,000 has fallen to you tax free (like a one time thing in your life) it might be smart to NOT take a big risk with it, and pay cash for the house and live off the rental income (and pay tax on that income if you have to).If you start breaking the $300,000 up as down payments on several places, and take out loans out and things go bad, you could lose the additional homes, and the bank will get the $300,000 you used as down payments leaving you with nothing.Somebody once said pigs get fat hogs get slaughtered, and that's something that someone with history lower income should think about.But if you want to borrow, and can find a lender then go for it.

(By the way, a person CAN in fact have more than 6 mortgages in their personal name- Fannie Mae allows up to 10 loans, assuming your debt-to-income ratio is within guidelines (the 43% you mention).)As far as having each property in its own, separate LLC- that's a matter of preference.

I am constantly gathering knowledge on real estate and wholesaling and plan to do anything I can in my power to succeed and bring wealth and financial security to my family and beyond.

In that timeframe, the real estate market in the Riviera Maya has been red hot so this is pretty bad.The developers and the promotors of these deals (who get paid fat commissions to sell them) might be the only ones who will make (serious) money there.

I'd agree with your initial post...If you're finding the offmarket deals yourself (and not having fat trimmed by a wholesaler/agent), you could still make it happen depending on your location. 

I haven't yet saved up enough capital to embark on flipping myself, but I'm wanting to get as much experience as I can in finding flip projects, analyzing and estimating repair costs, and developing relationships prior to my first rehab.