I figured that collecting lost rent is an uphill battle, so I'd rather opt for the 1st option.

When you have something that even just smells like a deal, call someone, call me, call whoever you see here on BP and ask them to go with you to look at the property.

That is convenient they're referring to this section and perhaps there is more detail that you did not include but it already smells funny. 

Make sure you ask a lot of questions to your lender when it comes to FHA financing, in my view eyeing a property is one thing and raising capital or financing that house is another, they both are two different battles to be fought before you close on the house.Good Luck to you. 

I would strongly recommend if you are getting in to this world that you look at the calculators that BP has and start running the numbers on all sorts of houses to start to figure out what a real deal looks and smells like.  

From, The One Thing by Gary Keller:"One evening an elder Cherokee told his grandson about a battle that goes on inside all people.  

So I was just reading through the book Battle Cry of Freedom by James Mcpherson about the Civil War, and came across this section and thought it was interesting how many people's mindset in the early years of our country seems to have been similar in some ways to the folks here at BP who are pursing or have achieved financial freedom :).  

This veteran (my longtime beau & I are living with currently) is a Retired Marine going thru major health battles, who has mobility issues & can't really do any major or minor chores or heavy lifting.

I couldn't stay in the house for 5 mins because of the smell.

But as far as finding a mentor that is really half the battle that itself is huge!