get comfortable in your own skin first...how?

Ho w difficult is it to make the switch from small time landlord like myself to running larger units?

I skinned my knees quite a bit on the first one, i.e. the electrical infrastructure was 50 amp and not 200 amp that is needed today.

All of the difficulties that I had were caused by mismanagement by the managers I was using.

Unfortunately the reason I am more interested in wholesaling than rehabbing right now are the difficulties I would face in getting financing.From reading the boards it seems that many people prefer to double close when wholesaling rather than assigning the purchase contract.

So, notwithstanding the inherent difficulties of owning property out-of-state, purchasing a property (especially a multi-family home) may not be a bad idea if I could find a property that could cash flow while using a property manager.So, presumably, after three-to-five years, if I were to return to the area, I would have somewhere to stay already.

The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with their mortgage.

Sorry to hear about your difficulties.

many mortgage bankers follow specific guidelines in order to sell their notes, like right away.if you decide to use Hard Money - you'll have much more flexibility in terms of being able to put less down, invest in different types of properties and present your investment strategy, rather than just the property itself.what i'm saying here is, if you buy a house and use Wells Fargo - they're not going to be concerned with something like the ARV (after repair value), whereas a HML might loan you money based on that - which grealy enhances your investment options.i know that doesn't make sense right now, but with a little research - you can come to understand the old saying:there's more than one way to skin a cat...being new, just be very cautious what you get yourself involved with.

However its still really hard for us newbie investors with no proven track record to get a bank large or small to give us a loan on an investment with none of our own "skin in the game" so to speak.