SO be sure to do your own research and fully investigate every item (to include the free advice you get from a free message board), before you go investing from thousands of miles away.I have several properties just south of this one, the most I have paid was 32k for them.

Again I am new and have learning to do but have been looking at houses for about a year now and have seen thousands of houses and I feel like I can spot the deals when they show up. 

It makes much more sense financially and to gain the experience for me to work the flip and bring in $20-$30K on my end in 2-3 months versus a couple thousand fee for the two weeks I've put into researching this project.I'm just going to be up front on this because I believe honesty will build trust with the person I'm hoping to be a long-term investor.

His friend owed about $60k on his mortgage and Brandon estimates the house was worth about 80-$90k after a "a couple thousand" put into it.

To that question: I have put in hundreds of thousands of dollars cash and it will take a LONG time to recoup that in cash flow:)  Some of that is my personal cash, and part of it OPM.

Language is key in RTO agreements, something as simple as acknowledging ownership can ruin you wih the wrong tenant

I don't think you should be doing this because one bad tenant can ruin your life.

Since that one derog was pulling my credit down below the 760 range, this could potentially be saving me hundreds/thousands of $$$ of my next deal.Thanks, BT !

I could have just offered 3% less and the broker is instead taking that as a commission.We luckily won the auction anyway but I still feel that I was robbed of 3% of the purchase price, or at the very least she put our deal at risk by knocking 3% (thousands of dollars) off of my bid while letting me feel clever about bidding a piddling $50 more.Is this common practice?

The problem with this is, the city conducts ridiculous rental inspections and if it is unoccupied more than 6 months a "safety inspection" is conducted and everything needs to be brought up to current code or if there was any work done without a permit, you are hiring licensed contractors to inspect and redo or rip out and start from scratch and that is why property prices are so low because you can expect an extra several thousand (my last house there $6-7,000) on top of cosmetic repairs.Although it is a lower income neighborhood, at no point did it feel unsafe.