PreREO I believe was run by the same person who owns AHP (American Home Preservation) - which has a lot of chatter on BP that you can search. 

You must have your personal finances in order before you invest.

Do you own a personal residence yet?

This is the foundation of why LaPlante Real Estate is based in portfolio management and property management... my personal portfolio started in 2009 and I find the majority tends to be Section 8. 

A realtor doing high volume, you don't have to use one you can poll 3-5 agents see what they do to get you the comps and then pick that person to help you.

I personally learned I enjoy local investing in residential properties.

best of luck. make sure you are speaking to a knowledgeable person in your area as you might be getting false information

For example is a personal loan from a bank is 7.5 % that you could use as a down payment (after its seasoned), and your 401k loan is 4.5% but the 401k is expected to return 7.5% per year the money you save on one end you miss out on the other end basically and if your 401k returns are 20%, then you lose out significantly. 2.

While personal circumstances can vary, it will be a unique situation indeed if $10K in debt should force you to declare bankruptcy. 

I know Walter personally.. he knows a lot about real estate from many angels..