I made my 1st purchase in 2004 as my personal home but am now interested in renting it out and continuing to get my hands on a few more properties.

Hand out your business cards that say such!

Regardless if it's 100% true or not, I'm wondering if banks would be willing to accept less for REOs if an investor can close the deal by the end of the year and the bank can report cash on hand and 1 less REO?

He held a second mortgage and they both began to default.

Bearing in mind my limited hands-on knowledge at the moment, I feel that I'm gravitating towards wholesaling and bird dogging right now.

I had heard of using a darker dye to make the carpet more functional for a rental, I have googled it, but am looking for some first hand experiences.Thanks in Advance, this site is amazing so far!

I respect that and realze that most true happiness comes from family.In the past people have always been held to their cast by education your father was a boatright you are a boatright,However today with the freedom of available information & any one persons ability to educate themselves at thier own leasure.

My guess is that the property you describe will never again in my lifetime (I'll be 50 soon) trade hands at that price.I know how to invest in that environment, but I've never figured out how to short sell houses.All that said, there are many places that didn't see the dramatic increases, and so don't have as far to fall.

Being an old hand at this game in Europe I have entered a world that has so many abbreviations and words that I have no idea as to what context they are meant for.

Internal Revenue Code § 453 defines a dealer disposition as Any disposition of real property which is held by the taxpayer for sale to customers in the ordinary course of the taxpayer’s trade or business.