I have recently come into a little money, and want to start investing into real estate. My delima is that my income, and debt leaves me in the low 60,000 range for a property. I found a property in a college town where I can make money off of the rental, and the house its self is 30,000 under its appraisal. Heres where I am. A. Do I buy it? and B. How do I buy my next property, and how soon can I finance it. C. Do I need to refinance this house to pull equity when purchasing my next? and if so how long do I need to wait to do that? All answers and advice would greatly be appreciated.

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