I believe I'm ready to start putting my (BRRRR) strategy in motion.

Also he said I should look for nieghborhoods where there is construction going on because if its just uniform housing stock like Clason Point that the appreciation would be minimal.  

After a few flips and being forced each time to pay the, lets be honest, VERY expensive brokerage fees to gain assess to the local MLS service and for preparation of a few standard (and freely available) contract forms...in addition to the warm and fuzzy feeling you get from knowing the transaction is being executed uniformly and professionally.

Contacting the owner is the only good advice but outside of that:1) Contacting the owner does not set the ball in motion for the bank to, "take payments in arrears".

Hello All,Just to bring some closure on this note and keep you all posted, please see below: Summary of situation:- Borrower not making payments- Prior noteholder filed a complaint for ejectment - We purchased the loan and property from prior noteholder- Default judgment was awarded to prior noteholder and loan boarded to my portfolio as REO - Homeowner was cooperating with me and changing moving out date for over a month- Looks like he was buying time until Homeowner's lawyer filed a Motion to set aside the default judgementResolution as of today:- I accepted to fight it in court- His lawyer reached out to us on Monday- I offered Cash for keys (500$) with a deadline to approve by today and moving out by EOD Friday (Aug 11th) or the deal is off the table- Signed CFK agreement was sent today- Realtor is going to meet Homeowner tomorrow at 4 pm for the keys- I've instructed lawyer to list it for a quick sell asap (Property is in a great condition in Downtown Gadsden, AL)It was a bit rocky but when you look at the 5000 ft. view.

Remaining items to be addressed before listing this home for rental:Remove and replace downstairs bath vanity and medicine cabinet.Ensure all light switches, receptacles, and plates are uniform white throughout.Ensure working condition of all tubs, sinks, and faucets.Replace old/broken/dirty light fixtures inside and outside the house.Replace motion-sensor light outside back of kitchen.Replace/repair tube lighting in kitchen.

Ironically, it was a student I had last fall that really put my wheels in motion on this real estate endeavor. 

2nd that motion.

In the long term real estate will make you wealthy, but it won't do it quickly, and the cashflow won't be nice and uniform where you can quickly start living off of it in the first few years to upgrade your lifestyle.Cash flow can be tricky until you scale to a large enough portfolio where your expenses tend to balance themselves out each month.  

Not sure about the laws in Tennessee, but in Florida, if they don't move out on their own free will, you'll have to hire an attorney who files a motion with the county court to obtain a "writ of possession", which you then take down to the local sheriff's office to get the eviction.