I've personally done just about every rehab scenario, properties I've lived in, properties bought as investments and even properties bought at auction.You've gotten good advice from folks on this list.

If you want to think about it as a math problem, it’s all about where you put your time to maximize returns while also factoring in what you enjoy doing.Picking the MarketI’m the kind of person who gets analysis paralysis.

When I encounter this type of client, I do everything I can to convert them into one of the previous clients.First thing I have them do is run all their income and expenses through a separate account instead of their personal account. 

If a property goes into foreclosure on a second, as Ken said you will either be buying it subject to the first mortgage - meaning it's your mortgage now - or the first has to be satisfied to take possession of the property - or the owner of the first is going to be there bidding what they are owed, so you would need to outbid them to get the property and then you are the person paying off the first mortgage. 

Stay consistent with follow-ups, sharing updates on new opportunities.Pro Tip: Host a webinar or in-person event to connect with potential lenders and answer their questions.Why It Works:Credibility and transparency make lenders more comfortable investing in your deals.What Do You Think?

Third, the typical person renting a room is not a home buyer candidate. 

I personally use the mass text capabilities through my Resident RE CRM.However I have a few friends who wholesale and invest and use Mobile Monkey to mass text and from what they say the price is pretty reasonable.

When your LLC takes a loan, expect as members to personally guarantee the debt.

i think you can be successful if you are willing to do what you alluded to, which is spend time in person in your chosen market. 

You can find something in Durham and parts of Raleigh, specifically zips 27610, 27603, and parts of 27604 that would meet your criteria, however generally speaking most of the inventory that would fit what you are looking for in Raleigh or Durham would likely be in neighborhoods that I personally wouldn't want to invest in, C- to D type neighborhoods.