With regards to your question, Michael Paris has everything on the dot, including 600, also get a copy of their driver's license and ss card to make sure they are who they say they are.

It's basically just a big ol' credit card that you use when you need it.

But equity will raise faster as debt is paid down due to the higher appreciation of the property.  

@Randall Wildner and @Jim Adrian@Mike Freidenberger.Lots of people sleep in their own basements even if they are not technically/legally a real bedroom due to the issues raised above. 

Hi Robert.I was born and raised in and right outside NYC.

Finding a building where you can raise the value with general improvements or with better management is going to be the best suggestion I can give, but making the first step and getting "into the game" is the most important step.

What would you do to raise that capital in time to start 2017 as a bonafide real estate investor? 

@Tom V When calculating my numbers I was never concerned so much with AVR because my thought was that if I was able to significantly raise the income of the building enough to support the money spent on the renovations that it did not matter. 

Outside of fund raising cash, are there different banks or loan products that I'm overlooking?

small deals are very difficult for investors.. because as stated if something goes wrong the cost of collection could exceed the investment.. rip it off of a credit card.