My advice, find out about previous repairs, if house sits on expansive soil or what type of land it sits on and if on expansive soil, pass on it because you will constantly be throwing thousands of dollars towards beam placement or adjustments.

Total loan volume in FHA is a mere couple thousand.  

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

For example, Bank of America may be the lender, but the final decision comes down to the investor, which Bank of America has thousands of investors who own the loans.

Even if you paid more, it would cost you less.  3 months is unacceptable, and you loose possibly thousands on lost rent, holding costs, PITI.  

Here's my suggestion, whether it's two hours away or two thousand miles.

Unless we have millions of dollars’ worth in assets under our belt or hundreds of thousands of dollars in income a year (which may be your case) I don’t think it matters so I am not even going to factor it in at this point.

Someone recently contacted me and wanted me to pay him for an introduction to an REO company so I could bid on properties before they went to auction but this person would charge me thousand of dollars in fees on top of the price of the REO.

IE under 50k and under 5k or next to free. so when you have a wholesaler buy a home for 5k and flip it for 10k that skewes the data.. there are literally thousands of those homes avalaible .. other areas you just simply do not have the product to flip

That way, if there is something you didn't see on your walkthrough that you don't want to deal with, you'll only be out a few hundred dollars for the inspection, instead of the thousands you could lose when you discover a problem after the purchase.