Further, if the owner or heirs show up, you won't be reimbursed for any improvements you make, even though improvements are typically of benefit to the titled owner.While Jibran's advice to obtain an abstract of title and to then contact a real estate attorney for advice on how to provide "Constructive Notice"  are good, consider carefully to his notion that filing a quit claim deed will quiet the title.  

@Adam Dow I agree with the notion that management fees need to be included.

Trying to figure out if my Irish citizenship/EU passport will still allow residence/purchase in England and Scotland post-Brexit-- do you have any notion about that?

I am a full-time business owner who has been project managing in my existing business for 25+ years, so the notion of project management is comfortable to me, however, my lack of active construction  knowledge and my physical distance pose a significant concern.My local real estate agent in that market has been very helpful and is willing to help me look for contractors and he might even be able to check up on any potential projects occasionally but he won't be doing active construction management.Part of me says that I should face the challenge head on and try to locate, select and manage suitable contractors myself and learn along the way, also by reading other Bigger Pockets investor blogs and advice on how to manage contractors.The other part of me is concerned that this might be over my league at this stage, considering that I only have about 7 to 10 days to firm up the deal on these 2 potential projects, which might not be enough to do proper due diligence on contractor selection.

First off - congrats on only being ripped off for the first $197, and not allowing yourself to be suckered any further with the more expensive pitch.Second - your first step toward getting started is to put to rest any crazy notions that the 'Fortune Builder' gurus about how easy it is to get rich quick if only you knew their secret formula.  

@Josh Keeney I agree with the notion that the more you listen to podcasts throughout the day the more you find yourself thinking about real estate and staying "fresh" as you put it

This notion I am not sure where it originated but it is so business bassackwards it is amazing.

Obviously, you know your market and will make the best decision possible but I just wanted to bring this notion up.

@Erik Bruns be sure to check your particular state laws on this matter! 

Some people "think" they can get a deal by going to the listing agent, but that is a false notion since the agent isn't there to create deals for buyers, they are there to protect the interest of their seller.One exception to this would be if a listing agent alerts you about an upcoming listing before he/she puts the property on the market.