It'll be challenging to get going if your strategy will be to scour on-market listings from abroad.

You will now have cash in your IRA account instead of a loan for whatever face amount the original loan was.If you keep the cash in your existing IRA account, when the custodian does Fair Market Value reporting to the IRS your account value will be reported at the reduced amount.

However, there are plenty of ways to make money buying such cheap property...it depends on who you ask but starting out I suggest going for an easier location to deal with and after  gaining some experience then toy with a more "challenging" area.

So, when she returns to move in and discovers that you do not intend to paint, she may think you're a con artist landlord trying to trick her into a subpar unit -- so, she puts on her hard take-no-crap face on and treats you that way. 

I've done 800+ deals and I don't see a crash and would challenge anybody who says there is going to be a crash to document that with evidence. 

Another challenge is having the capital to put down to secure the property and have enough left for all the contingency factors I must take into consideration.  

Many houses here are stucco and the the north facing sides can start to get pretty grayish with minor mildew.  

wayne is exactly right. if you do get the high bid and buy it, you then have to get the tenants out of the place. that can be challenging. at that point, you can see what the inside looks like. at this point, if no one gets to see the inside, well, that just means the price you will offer is just that much less. you have to assume, then, that it is a total loss in the inside

I am not the grammar police .Wholesalers on there face are all out for their own ... they try to get to the deals before anyone else so I don't see a big sharing thing..

I have one association that takes 1 month to approve or deny a renter so it is challenging.