A smart seller/listing agent will likely require a large EMD to tie you to performing on your offer, so be prepared for that. 

If you have **no** savings to put toward the real estate venture I would exercise caution.

As an investor in a couple of Jorge Newberry’s note funds, I came across one of his newer ventures: preREO.

Not saying it will happen to you but be prepared for anything.

My only concern to look out for is that things can go 'rural' pretty quickly if you start venturing outside of town, and most lenders are going to put the brakes on financing if the appraisal lists the property as 'rural' (has to do with what they perceive as the availability of future tenants).Watertown, NY - It probably is as good as you believe, but the lending licensing is pretty tricky up there, so its just  bit more difficult to find lenders that operate up there.

If the due on sale clause was triggered you simply need to be prepared to refinance into a new loan. 5.

If you're prepared to acquire multiple properties at once, you can gain a competitive edge and negotiate better deals that simply aren’t available when buying individually.3.

My advice would be to specifically retain a potential eviction attorney from the start, in order to be prepared for how this *may* go. 

We made the decision to rent and prepare our house for long-term rental.

That said, be prepared to act fast on non REOs, or shell out a little more than usual and bring an inspector during tours.