In the course of helping her over the past two months, I've begun to realize that the Houston market is currently driven by a number of factors, the biggest of which is real estate investors.

My name is Roy and my wife and I have just begun real estate investing.  

Quality workmanship and labor come at a price, you get what you pay for, and if its all about dollars and cents, sure, you can find a laborer at any corner, but be prepared, your nightmare has just begun. 

This is my 4th or 5th post since I've begun this process.

Read blogs, ask questions, join meetups, and I see you've already begun on the podcasts.

I have been ripping through past podcasts, which are incredibly helpful, and have just begun reading through the forums.If I can answer any appraisal questions for you, don't hesitate to contact me.

But, I've begun to read that beginner section on this site and am learning quickly, trying to catch up.I'm probably going to be in the market for homes that are 80-100k or so, that require no more than 20k for a 20% down payment on a 30 year. 

I've begun networking with local REIA members and immersing myself in REI literature.

I'm just about as new to investing as I am the site.I have just begun working with a seasoned partner in the area and we are in discussions with a property owner that inherited a run down home in a very lucrative rebuild area.The owner is trying to avoid capital gains or estate taxes, and we have discussed a possible 1031 exchange with him, but he is nowhere near knowing what he would want in exchange, so we are avoiding that plan for now.What we want to do is submit an offer with the intent of it becoming a purchase money mortgage, giving the seller 10-15% on his loan of perhaps 12-14 months for completion, so that we can use the mortgage to obtain a new construction loan on the lot.What issues may arise from this type of situation?  

When facing foreclosure, here are some things you need to consider:If you are three or more payments behind, the mortgage company has probably already begun the foreclosure process.If possible stay in your home.