We’re looking for low cost properties to start with to get the hang of how all this works.

So unless you care to hang on to the cash and continue the tax and bank evasion, I'd tell them that you'll accept it as long as recorded and documented.

I'm a little nervous about a 1/1 home and septic/well -- I understand that selling, when I choose to, might take a little longer, but, at this point, I think I would just hang on to it as a rental and milk it for the cash flow. 

Hang in there Mike! 

@Sean Cole  its regional for sure.. the ones I had in MS and AL  feed us the deals.. but lots of deals there ... its funny as we talk about this.. some parts of the country there are still plenty of deals others its very tight the deal ship has sailed and its basically pre 07 market.. one size does not fit all.in Oregon we have little to no OREO inventory anymore all those agents that specialized in it are out of business and back to doing regular real estate.. the foreclosures at court house that were 20 to 50 a week are down to 3 or 4.. with MASSIVE competition.. it all cycles that's for sure.. but I bet you can still roll into certain big cities and buy hang over inventory..

The BiggerPockets calculators are a huge way to practice and once you get the hang of it @Mark Lange, you can use the back of a napkin.

I've also posted a note on each of the 2 basement doors, that basements are not living quarters and you can't hang out and sleep in them at night.

Just don't leave me hanging after we've had this talk. 

Hi FolksI got my CA real estate agent license a couple of years ago & currently hang my license with a local broker.

I’m currently not under a broker, do I need to hang my license somewhere to renew my license?