The hard part is balancing the obsession with my time and studies.

As a neophyte RE Investor -actually, I'm still researching-, it seems there could be a good balance between both worlds.

What are the typical problems and issues that may arrive if by so chance that through a quick title search that there is an outstanding balance?

There is only something like 2.8 months supply on market where 6 months is considered balanced.

It's a foreclosure and the listing price seems to be ~the remaining debt balance, but I imagine the bank would be willing to take less since it has been posted for so long.

It seems like what makes a “good insurance company “ is a balance of how low the premiums are and how fairly they process claims.  

Now I mean great performing first trust deeds/mortgages not Non perfomring seconds and non performing notes.. those are more work than landlording many times. just some options to stay in the game.. most of our note clients over the years start selling off rentals as they tire of being a landlord and re balance their portfolio.you can do this in an area also were @Jim K. and @Dennis M.

And sure, you may say the appreciation could be tremendous, and perhaps it will be, perhaps we're at the top, but even if it is, you have to balance losing that much money a year until rents increase significantly, and you'll only make the money on the appreciation by selling or refinancing... 

Any payments on the balance remaining from the original loan must be included in the debt-to-income ratio calculation for the refinance transaction.

I love the rental arbitrage business but I think a more balanced perspective is important: "Martin" and "Al" are my two mentors and both worked very hard to build their rental arbitrage portfolios.