I was searching for foreclosures/preforeclosures and I found a relatively cheap/"the numbers worked"I do not have a credit or capital currently and FRANKLY, I DON"T WANT TO START OFF IN A "F-" NEIGHBORHOOD SINCE I DON"T WANT TO DIE OR ALMOST DIE every time I COLLECT RENT!!!!!!

Good luck in your search!

But that also assumes the assessor has the right info in the database (some don't, particularly if there's been an unpermitted addition or major remodel).There are also certain searching expenses and research expenses and travel expenses that you might be able to include in basis.The legal fees for setting up an LLC are NOT included in the basis of the property. 

I have hired other realtors so that I can search, negotiate and find other deals.

Do a search in the box above for:  Subject+To and for  Wrap You don't need to go through the whole mortgage process.

I recently learned about this when searching for real estate investment podcasts and I am hooked!!

Any advice on who to speak with or what to search for in terms of the actual logistics of taking a loan out of the LLC?

As you mentioned, your dollar goes much further in Louisville than it does in California, and because of that very reason I've been searching the Louisville market for investment opportunities.

You can search by state and area

As for fees other than appraisal, they estimated $600-800, but I current haven't received the breakdown.Curious if anyone has any experience w/ AndrewsFCU that they would like to share (FYI - I have done a search on BP and PM'd those who said they have experience w/ AFCU).Thanks!