Your biggest hurdle is going to be the city.I'm curious to know what they would say.

It’s the financing aspect I suppose that is a the biggest hurdle for me.

Wholesalers and agents generally do not work well together, though you can if you want to.If it's an REO, you have even more hurdles to jump through.

I will be purchasing a larger home for my new primary residence.It is unreasonable for me expect cash flow out of this property (The numbers just dont work out).

So you will either have to increase rent to about $500 per month or lower the price down, or get a better interest rate or get a 30 year or 40 year mortgage.....And finally your last problem, which might be your toughest hurdle (as i had this problem) Unless you are in good with your banker you will be hard pressed to find anyone to give you funding for such a low amount

Definately not good news and Fannie may follow the lead.Just one more hurdle to jump through as RE investors.

I'm almost certain that nobody will give me another loan and private money is kind of out of the question at this point as I do not want to be responsible for anyone elses money but my own.I'm a total rookie but here is what I'd like to do:Tell me if this impossible or unreasonable:1.

Then they tail off and slowly stop going.You have to make that first hurdle low enough so it becomes HABIT.Shoot for 2 days a week, say one day in the middle of the week and one weekend day.

IE: If you are trying to buy pre forclosure, the biggest hurdle is where the sellers are going to live.

This is a great thing for investors because it eliminates the need for you to make your way through the hurdles of court approval which can delay the process a lot.As for finding the real estate Arnold is correct.