How do I get started???!

Augh. I feel like I'm going in too many directions right now. I am getting ahead of myself time and time again and then realizing it and pulling back, only to get ahead of myself in another direction.

Like, I was about to head out and buy a newspaper and look for cheap houses for sale in our city - one that perhaps we could rent at enough of a rate to generate a positive cash flow after the mortgage and maintenance costs for us. I'm thinking of a very very starter home, somewhere around $30-50k, because the downpayment on it wouldn't be as difficult to meet as with a more expensive home.

But ... do I know how to recognize a positive cash-flow house? Do I know the right questions to ask to ensure it's not a disaster waiting to happen, on my chequebook? And are our personal finances in good enough shape to take on a second mortgage?

I think right now I need to find good advisors in different areas of finance. I need to learn about our personal finances, where we stand right now, how we could improve it, and where we're going, before we add on anything new.

And, I have to ponder the morals and ethics surrounding how I wish to attain real estate in order to rent it out. Bankruptcy/foreclosure houses are cheaper than regular sales, after all.

Now, I will go lay down on the couch, cuddle with my pet cats, and listen to the audiobook Your First Step To Financial Freedom by Robert Kiyosaki and friends.

Jill