I guess I'm in the learning phase.

I can do most all phases of home repair far better than the typical home owner.

I do not know "Peter" but I trust John since from what I understand Peter has a waiting list so once John finishes his phase he'll be doing business with Peter to get it up and running. 

I am in the phase of doing the market research to understand the rental investment market/opportunities in the region.

I am currently in the "education" phase of REI and am reading everything I can get my hands on.

@Tracy Royce  in this business if your doing any volume your dealing with one or two of these a year.Always tough.. although what I finanally learned is that it rarely gets better you just need to bite the bullit and follow the letter of the law.NOt sure about protected class. but I have one right now in my market that could go that way.it took me 18 months to close and it was my first suit for specific performance in 42 years in the business... phase two is to move this person out.its a city lot the house was so bad I paid over 60k in city code enforcement fines to close escrow. that's just the fines folks..

My husband and I have also been in the learning phase the past few months and are getting close to buying our first rental as well- also in SC!

I've seen some foreclosures listed on real estate sites (zillo, trulia, etc.) but those are passed the auction phase at that point right?  

We prepared a 3-phase, 3-year plan to rehab the shopping center and fill it with new businesses.

So it's been a few days since I've taken the time to invest in writing on the posts...so for those interested in the numbers on this deal, here goes:The list price was just under $600kMy first offer was accepted at $200kMy two partners and I each invested $20k to purchase the property (1st mortgage)We took a second mortgage of 5-years for the construction (rehab) loan totaling $250kCounty assessed the property at $750kThe fair market appraisal was $450kWe developed a 3-phase rehab of the property which included p-1 to replace parking, repair all roofs above spaces less than 6,000 sq. ft.