Great idea, although conventional and FHA renovation loans are somewhat of a pain to qualify for.

Great idea!

For me they've been a great source of ideas, resources, energy, and comradery.

I haven't identified any specific properties yet, but was hoping to get a PM lined up so that I could bounce ideas before purchasing.

@Jonathan Greene @Jay Hinrichs @Nicholas L.Note: Each state has their own way of handling and regulating foreclosures, and as someone who is not specializing in foreclosures I can give you only general ideas and information. 

Maybe the VRBO or AirBNB listing so we can get a good idea of what we are talking about.

Look at some of the properties in Gatlinburg/Pigeon Forge area for ideas. 

I also have no idea what room I'm looking at since they aren't labeled. 

Other ideas?

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.