In your experience, would you advise that it's best to avoid the complexities of the foreclosure purchase process as first property newbie, OR proceed with caution under the right circumstances.

If so, one or more states or the SEC may regulate that investment club.A person who is paid for providing advice regarding the investments of the club or its members may be an investment adviser under the Investment Advisers Act of 1940 (Advisers Act) or state law.

It is highly advised to keep learning continuously as the real estate industry is constantly evolving, and staying updated is crucial.

I would advise to stay away. stay far away.

PM claims that we were unable to send anything sooner because of the repair delays. 2) Lawyer advised to send an email to see if they'd be willing to work something out regarding the repairs. 

@Ryan BiankowskiIn my opinion, if you have no experience flipping houses, no experience dealing with contractors and this is your first deal, $10K is nothing.Sorry to burst your bubble.An unscrupulous contractor will burn through your $10K in one day..... literally and you may never see him again.Assuming you have no experience, I would advise you as a starting point to slow down, sit yourself down, and buy J Scott's books for $49.00........and save yourself $9,951.00.Make sure you read them through thoroughly at least once, if not twice before making your first move.There are other good books out there, maybe a good local mentor that you can learn the ropes from and even some good "guru's" that you can learn from despite all the guru bashing on BP but I would definitely start with J's books.Said books are:The Book on Flipping HousesThe Book on Estimating Rehab Costs

The whole situation seems strange since the owner let all three get this delinquent - and managed to place three non-paying tenants.If we're talking about the same one, it's price now is starting to get more attractive for a triplex in that area, even with the need to evict (of course that assumes the condition of the property itself isn't terrible).It will take time and money to get them out or get them to at least start paying again, but usually you get "deals" by agreeing to take on situations like this one.Personally, I'd advise a first time investor client against getting started with one like this and saving that for a few deals down the road.

I also have about 80K in equity in our home that I may be able to tap into (is this advisable?).

If you thought they were in breach of their contract due to it being past maturity, you would likely have been advised legally to stop accepting payments.

@Marc Shin wouldn't advise painting the brick as then it will have to be done every 5-7 years, if done the right way, more often if hacked.Just paint the walled garage door faux stone area a better color that doesn't clash with the orange brick.