Go back after ever legislative session to consult on any updates. 

However, imo, if you can afford to buy several teardowns-to-be in the motor city and wait for the upside to come(if and when that will be is very uncertained) than go for it.

While there is still a lot of regulatory uncertainty around JOBS Act legislation, there are certainties around existing regulations, some of which allow unaccredited investors, like Regulation A, or intrastate crowdfunding, which bypasses the federal regulations.

As for the future of my real estate investing, I am uncertain.  

-Warren Lizio, Legislative Chair, IREM Chapter 4."

Now that the federal government is involved (see FHFA Issues Warning on Super Priority Liens), this ruling won't last long - as federal legislation is adopted to protect the interests of quasi-governmental agencies like FNMA and Freddie Mac.  

I am familiar with the foreclosure process itself but I am uncertain exactly how to determine the debt that I will be responsible for after the purchase.Many thanks for reading!!

Also FHA 203K program is for purchase rehab if you're buying owner occupied.QM or Qualified Mortgage legislation goes into effect Jan 1, 2014 min Fannie/Freddie conventional loans will be 95% LTV.There is a conventional purchase/rehab loan for investors at 75% LTV of as completed value..

Las Vegas has had a run up because of legislation slowing the foreclosure process thereby reducing visible inventory.

If you are uncertain, be sure to be on the low side.With regards to the ceiling.