FHA is not great but right now the bet way to get into a home with only 3.5% down.

I bet the cash on cash return would be fantastic.

As for tips... if you decide to work with the Section 8 program, take the time to learn about the roles and responsibilities of all parties involved - case managers, inspectors, tenants and landlords.

I simply picked 50% as a for sure bet of being able to sell the property to the next buyer whether its him or someone else.

They will let you know of any oddities that may be involved with renovating these homes.

No case worker involved.

So, the attorneys would definitely have to get involved.

Be sure to check with the licensing authority (DOS in New York) and investigate all court cases that involve the property manager and the principal broker.

That house has given us an opportunity to get some rehab experience and we have started building relationships with a really good electrician and a couple of other handyman types.From what I have seen on BP I should be looking to get involved with a local REI club to start building relationships but I have not been able to find anything around here.Hoping someone with local knowledge on BP can steer me in the right direction for attending some central california meet ups.My goal to build a stable quality REI business over the next few years and eventually transition into this full time.Glad to 'meet' everyone and I promise to stop lurking and get more involved on the BP site.

I've been lurking a bit over here on BP for a few weeks and have already gained some great insights and ideas, so I'm looking forward to getting more involved and seeing what other great information y'all have to share!