I'm trying to get as many opinions as I can.. I am new to the real estate market and trying to learn as much as I can.

I am 22 and am getting ready to buy my first home. I am looking for something cheap (under $150k) and I don't mind a fixxer-upper. Infact I found one last weekend and by the time I was ready to make a move on it, it was under contract.. bummed me out. My agent said I should have made an offer first, then get started on the loan process, inspections, etc.

I am looking in the Pocono area of PA which is about 80 miles from where I live now but I work all over NJ so some locations will be closer, others further. I really want to get away from all the traffic and congestion of this area and live in a quiet, relaxing place. Looking for an acre or more of land.

As with any field, there will be people looking to take advantage, just like the auto business.. I'm trying to be one step ahead of them. My questions are what are the steps to take after you find a home you are interested in. Also if anyone has knowledge of mortgages that would be helpful.

I am a parter in a business.. I "live" off the business and don't show a large personal income on my tax return. I understand this may be a problem come loan time. I am thinking of getting a "no document" loan.. I am prepared to put down 20-30% so I don't think I should have a problem.

Any and all input and suggestions are appreciated!!