The house we live in is a cute renovated victorian that is close to everything.

Hey Juan....welcome to the game.1.

The long and short of it is, you don't need to use your money although having some "skin in the game" helps.

I'm turning over the leg work to my renter as this is his finances and I'm just responsible for the end game.

Fresh into the game of REI.

I'll have to agree with many of the other members here that if its an area you wouldn't live in you shouldn't invest in. 

Just take their word for anything that might be wrong with the property.To be a little less abrasive, look at it as a simple numbers game, is it worth the $400 to have someone who is working as an agent for you to inspect a $100K Home?

We have built both companies on intergity and that's one principal we stand firm on, we have licensed contractors to give accurate estimate cost for repair and an offer an home inspection to give the buyers the truth about the home that they are interested in.

But then you go to the auction and well then the local players are there and you get out bid.. or you end up getting caught up in it and bid to much either way its a numbers game.... very hard to just pluck one at trustee sale very hard.

I would feel stupid vacuuming crackers and shampooing Play-Doh out of the carpet on a brand new car, but when they're grown it'll be game-on.