This week in rental property, mortgage rates climbed up to the highest levels for the year.

I would want to feel comfortable with a certain level of cash on hand and very safe gov't bonds for any emergency to handle.

I am a naive want-to-be investor (right now) looking to get myself to a good level of knowledge to pursue the field.And although the I live in the UK (where I'll invest) I've been listening to the BP podcasts in order to learn how to invest and how to think as an investor: which are not things restricted to an American information source!

Some good info for a base of knowledge and conduct your business legally but most not very useful.Focus on systems to serve clients at a high level,  your sales skills, negotiation and ways to get leads. 

I think a lot of it depends on what level of due diligence is needed.

The number one fear of new landlords is placing tenants, so this adds a comfort level for them.

The lower units are usually accessible but for the upper units you may have to open up walls; hopefully just drywall and not plaster!

I took a very high level look at it and the proposal is quite ridiculous.

For example, a higher cap rate indicates a higher potential return, but it also indicates higher levels of risk, which means that the price an investor may be willing to pay is lower.For example: An investor was considering purchasing one of the two properties.Property 1: $100,000 NOI / $1,000,000 Purchase Price = 10% Cap Rate.Property 2: $500,000 NOI / $6,250,000 Purchase Price = 8% Cap RateWhen comparing these two potential purchases, it is safe to assume that Property 1 carries more risk because it has a higher cap rate.

We're both dedicated and hardworking and have the skills to make repairs so a fixer upper is not out of the realm of possibilities.