Hi @Neil Anthony Giscombe, I work with a few dozen national private lenders and everything that @Jay Hinrichs mentioned is spot-on.

Definitely comes down to risk assessment and bandwidth.

This can make it difficult for you to assess problems in the future.Also, when you buy property that have been converted, likely the layouts are very funky.

There are dozens of markets in your backyard you could invest in and be hands on.Where is your property located?

Their program seems very good overall as far as the essence of them covering coaching and rehab and all costs, but i was quickly turned off by the sales rep named Scott,i spoke to who was extremely arrogant and impatient kept saying i'm geting dozens of calls each day and dont have the time to handle everyone, and needs to know up front do you have a couple thousand set aside for this business, i said i'm investing about that in the business now what do you offer that would warrant that< and he repeated the same and i said, well like i'm on the call now with you 2 min and 14 seconds care to tell me what all this is about and what the financial requirement is???

There are also dozens of experienced, already connected REO agents in every market

$50k is not enough to make alternative financing work because even at an embarrassing interest rate the investor will only make a few thousand - not enough to justify the time, document prep, risk assessment etc.I'd suggest that you get a realtor to put up the money, take a mortgage plus a few points of the selling price.

There's a credit application involved, often there are fees, a lending institution needs to assess value, assign interest rates, amortization tables, etc...

Nevada has the 4th lowest property taxes that do not assess on the sale of the property, very different than CA.

Here's my take:- The condo in FL Beach is suitable for people who live in the East Coast, especially financial pro.The problem with the condo in FL is the HOA assessment/fee and property insurance.- Hawaii in general is very suitable for people from the Bay Area or socal as there's only 2-3 hours time difference.