Congratulations on "seeing the light" and having the discipline and drive to build an impressive rental portfolio so quickly.

You've talked talked to YOUR broker and it sounds like he pretty much gave you the green light to move forward.

My hobbies include scuba diving, horseback riding, app development, robotics, auto mechanics and performance stage lighting.

This is my first investment property purchase.Location: Sugar Creek (right on the border of Independence, close to the intersection of highway 24 and Sterling Ave), neighborhood rated B+, low/no crimeProperty: Built 1917, 6 bedroom 3 bath, 2 story, 2,200 square feet, 2 car attached garagePlanned Renovation: New tile flooring in kitchen and baths, new countertops, new carpet throughout, appliances, new light fixtures, interior paint, exterior pain, new water heater.  

Generally, I replace appliances, toilets, flooring and paint, lighting, etc so there isn't too much to be called about.  

This is for a 1,200 SF ranch with 500 SF finished basement.New 2.5 ton AC unit & coil - $2750 Replumb entire house (1.75 baths) - supplies, wastes, & vents (excl. fixtures) - $5300Rewire entire house & garage to code - new panel, service ok (excl. fixtures) - $5300Paint interior 3 colors (walls, ceilings, trim), incl. removing some wall paper, most surfaces required 3 coats, incl. paint utility basement walls & floor - $4650I'm in a medium-sized midwestern city with average material & labor prices.

There is a 6" x 6" vent about 6" by the vanity light fixture (on the wall), in fact, it covers the vent.  

This is now no longer acceptable as their first response.The other key thing is that our Addendum of Clauses is split into two separate addendums instead of one.A few small points are that brackets for tv's are now considered fixtures and must stay with the property, the termite clause is weakened a bit, buyers retain complete right to terminate a contract if they are not given all the lead paint forms (This will be an issue on REO's as they often dont do any disclosures), the contract makes TOPA a little more clear in that your most previous tenant needs to be offered the chance to buy the property (DC) and the new sub section on the transfer taxes in DC, I think is going to be an issue.Im sure most of the stuff for the DC and MD contract will be similar for Northern Virginia too.

To me, money is merely a tool I can use to provide for my [future] family, help my neighbors across the street or across the ocean, and do my best to shine just a little bit more light into this world. 

While making some small talk with my biggest investor about looking for more deals he gave me the "green light" to shop for more deals and jokingly said that he wants to see my debt to him grow much bigger.If you are struggling to raise private money get extremely detailed on what you plan to do with your investors money and kick on doors till you get your first yes!