Gary Clisele Also if your buying a note for $5k the quality of the asset will be very poor and is most likely a property in a D area that needs extensive repairs -If you end up taking the property back it will probably be a loser since the rehab will be higher than the property is worth

Hey Everyone,I am new to investing, having only done some extensive research, yet haven't yet made the jump.

I have done extensive research on REI and am sure that this is the career path I want to take.

There is a property I am eyeballing that would require a fairly extensive remodel, but it is also big enough and laid out in a way that made me think it might be a good idea to convert it to a duplex. 

This type of deal works best for highly distressed properties that need extensive repairs, major remodeling, or a total gut.

In my immediate vicinity (area that I worked extensively) and did most of my business in there were 2 subdivisions on acreage lots .

On your 1st Question, As for Now, Stay away from anything that needs extensive renovations.

Make sure you do extensive due diligence. acquiring tax property owned by the county can be had for 50 cents on the dollar or less at times but the tax sale does not whip out all liens. i.e.

This is covered extensively on Bigger Pockets.

Then the second month, one of the tenants asked for extensions on the rent.