You may have to provide a proof of funds to enter the auction, but other than a tech fee, your money should not be in jeopardy.

Simply put, get a real estate license. 

Was it simply experience, or were there particular resources that were helpful to you? 

We're most likely looking at multi-family (initially) in lower cost of living regions simply to make it affordable for us to get into the game. 

We are a capital partner and move like no Lender can move. thats where the great deals are going or at least what i see as its my day job LOLPS  in the old days  the west coast buyer had to get pre approved by the west coast mortgage lender and that included an appraisal up front so we knew the numbers would work then when rehab was done the mortgage brokers simply had the appraiser do a 442 update and the file closed. 

you're still entering into a long term relationship but with only one other party. 

Blah blah blah.I love the Podcasts (I listen everyday sometimes multiple podcasts everyday and covered a bunch during a recent rehab) but there are a lot of those stories and I'm wondering if this opportunities are simply not in the cards for those of us building a portfolio today.

Very simply, multifamily spreads out your risk if a tenant moves out generates more income with more units and disproportionate amount of increase in expenses as there are more tenants to deal with.

I'm simply stating what we have been told to put into these homes lately.

You don't know the law, you don't know how to handle difficult tenants, and you aren't local to work on it.This is what Ohio law says: “The tenant shall not unreasonably withhold consent for the landlord to enter into the dwelling unit in order to inspect the premises, make ordinary, necessary, or agreed repairs, decorations, alterations, or improvements, deliver parcels that are too large for the tenant’s mail facilities, supply necessary or agreed services, or exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workmen, or contractors.”I would give the tenant a short, direct warning that they have 72 hours to coordinate with the vendor and set a schedule for repairs.