I then look at area vacancies, economic conditions, employment opportunities, area demographics and verify that the property has not been red tagged or have any other underlying problems that might make it difficult to resell or rent.When I have my financial information then I can consider debt service and costs related to equity partners in the overall income produced.

With your CPA background and audit experience, you already have a strong foundation for analyzing deals and understanding the financial side of real estate—a huge advantage as you dive into this new journey.

I planned for it financially, but it's a headache for sure. 

It's hard to say without knowing more about your financial situation (not that you should post that on a public forum).

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

On top of that, our STR management company now oversees more than 90 listings under the Cozy Co-Host banner.My wife and I have transitioned from the typical 9-to-5 grind to achieving financial freedom as business owners and real estate investors.

On top of that, our STR management company now oversees more than 90 listings under the Cozy Co-Host banner.My wife and I have transitioned from the typical 9-to-5 grind to achieving financial freedom as business owners and real estate investors.

Financially my full-time job is our main income as a family.Job is demanding.

It's because typically people say they want financial freedom but are looking for an easy button where they do minimal work and all this success happens in their life.

You do lead me to a point of maybe I should investigate their financial stability a bit more.The guy with the 4 plex I talked to WAS thinking about taking the $120k.