Except from contractual payments, i have to put 15-20 k usd for interior/decor/furniture and i will be able to rent property 1 for around 700-1000 usd/ mon, and latter for 350-400usd/ mon.Tought thing is that our country is facing cash shortage, property prices going down, local currency (som) ex rate falling, and people are unsure about the future economic situation.

Hi,i'm pretty new and trying to figure out how things work, i did read all the books available on bigger pockets and i still have questions. it seems a deal is usually made by a face to face contact with a desperate seller.how to find the desperate sellers?

Based on earlier conversations between my broker and the selling broker, I knew the seller would want to negotiate and not take my estimates at face value, so I started out much lower than what I wanted the final number to be.  

I would not know that if it was staring me in the face..

I was never  able to do this prior to a trustee sale and I think it might be difficult given the mental state of many facing foreclosure but not impossible..You really have to do your best to estimate the loan balance on the 1st using whatever information you can get.

Either way, I would immediately get an appraisal, take the appraisal to the court house and challenge the taxes.  

Anybody knows what are the challenges in this type of deal ?

Is that what im faced with Ewa Reza ?

Also plans to attend a few of the REI meetups in Dallas... that will be a challenge b/c I'm a bit on the reserved side.Thinking the first flip project will likely be a partnership with a buddy from Dayton that flips four or five houses a year.  

I can vouch for Portland... this is also fueling the first time home buyer as our median price home payments are less than rent... and we are not an area that has a huge portion of the population credit challenged  great time to be in the PDX market in all phases.