A good time to purchase a foreclosure is during the pre-foreclusure phase since the competition may be lower around this time and the purchase price you negotiate may also be lower than when it goes public.

I am currently in my research phase of starting my path into real estate investment.

Tenants who want to work on property need to become homeowners: then they can try wiring 3-phase electric using aluminum wire they found out in their grandpa's barn to their heart's content.

I understand that I can utilize a 1031 exchange to sell the property and exchange it for the new property now.However, I would like to avoid selling my investment property as I am in the accumulation phase of my investing life.

I have a passion for real estate investing, and i am in the educational phase looking to start purchasing property in the near future.

After about 6 months, got my first property under contract and the due diligence phase began.- There is a great PDF printout on BP about a checklist for the Due Diligence period and I printed that off and started checking things off.9.

This is probably what I would want to do as I am in the learning phase.

As well as provide phased inspections of work, or emergency inspections/litigation avoidance. 

You will however lose time (making carrying costs go up) and get taken advantage of if you don't find honest sub contractors at every phase.

So I am thrilled and can't wait to finish this one and move onto the next phase of being a landlord!