I like to think I know what I am doing, but please put me in my place if these numbers are ridiculous or anything I state is impossible, all honesty please. 2 Bedroom 1 Bathroom 800sqft home In a nice neighborhood, good town, and access to NYC via train station in townThis house is for sale by owner or $199k Let's say I get the house for $175k, 3% down payment which is $5,250 + 3,000 closing costs and whatever else = $8,250Monthly mortgage payment, tax and insurance is now at $1,162 The house seems to be in great condition, with a new porch in the backyard The houses surrounding are in the high $200k - $400kI believe I could get $1700 a month for rent if not a bit more, considering many of my friends who have 1 bedrooms pay $1250 a month for rent. 

If WF is driving this train it may not be anything that can be done if this is the hold up.

Welcome to BiggerPockets @Randy,I am relatively new as well, but already feel at home here, Interested in buy and hold multi family properties and short term letting.Best of luck expanding your operation.

@Rich Ngyou can have one account for all of your security deposits as long as it is separate from your operating account.

More info here:"eXtremeFREEDOM is an exclusive live training event that will be held in Glendale, Arizona on October 16th – 18th 2015.

Glad that I found mine at Royal LePage in Mississauga, where I presently undergo training.

My only caveat that I'd like to share per my broker is that listing agents tend to underestimate operating expenses so if you're planning to conduct a transaction without buyer representation, make sure you know how to properly analyze the property on your own.  

if you see @Anthony CharaCheck out his profile, he coaches apartments, probably the best training for moneyMaster lease options on apartments can be a way to enter the marketplaceYou need to be able to guarantee the owner on a master lease, and you have an option to purchase a later date based on the lower NOI or net operating incomeI would start an LLC and get partners, you do the work in partners fund the company

I know that guys like @Lori Valene, @Aaron Ramm, @Tarl Yarber, @Ryland Taniguchi, @Brian Fouts, @Kevin Carbon all operate in the Tacoma area and would be interested in any deals you have dug up, I would certainly consider a partnership to help you learn the business.For other actionable steps, I would start spending a few hours every week scanning the MLS, Redfin, Zillow, etc. and learning what houses sell for in your area, learn the market and start learning how to estimate rehab/renovations costs.

- we got a good GC now for our rent to own operation).