My question for your knowing people out there is simply do you know anything about straight options and using them in California?

At that time I didn't charge my $500 up front fee in addition to the balance at close of escrow.I have also found sellers who are rehabbers, and find deep discount deals, rehabbed them and are willing to turn them at 80% to move them quickly.

Regardless of what the real estate market is doing, you MUST buy at a discount if you want to succeed with rentals.

Once I get my credit straight I'm hoping to learn to do some flips.

This is how you find deals at 30% or more discounts from "market price".Now about which segment of the market to concentrate in:If you had $200K to invest you could buy (4) $50K houses, (2) $100K houses, or (1) $200K houses.

Then of course, the interest rates are higher making it more expensive to own the property.In an area that is not doing well, or declining I would be very cautious about the price I would give and look for deeper discounts for sure, to make sure the numbers work!

In my opinion and especially in my market a $250K property that generates $25K in rents or possibly $30K is not a good investment for my rental portfolio unless there is some very strong appreciation.On a side note, I might be willing to give you a straight 12% on your money.

If it is something pretty straight forward, as described in IRS Publications, as an established industry practice, etc... then that's how you should do it.

RP,Only a very small percentage of properties for sale can be purchased at a large enough discount to make them a good deal for an investor.

I will buy houses anywhere in the Texas or Oklahoma panhandles or in Clovis, Tucumcari, Clayton - New Mexico and surrounding areas.Financing is available for all properties and I'll always offer discounts to cash buyers!