I've also been contemplating starting out with maybe a 2/2 near Duke or NCSU in order to attract student rentals, but I'm still not sure if that's the best way to go.I haven't been to any meetings yet (new baby, work evenings), but I might start this month. 

I've contemplated short selling MANY times (we just got preg which could be the excuse we need) but have been real nervous about the credit hit as far as being able to rent a property myself or buy in the near future without getting screwed on rates, etc.Yes, the market is so volatile that it could EASILY (and I say this because similar properties have done it) jump to 430 or 440 and I could get out breaking even on the sale or whatever...BUT, I have to sit around waiting for that

The contemplation is typically only ever one sided despite the claim of being a 'neutral' idea.  

So far so good on that...This year we purchased our next home, which is our primary residence on the Cape.We both work 9-5 jobs but recently, I've been contemplating getting back in to real estate investing so we can transition out of our full-time jobs to pursue other interests and to gain more financial freedom.

I suspect some of this thinking is spurred on by Thanksgiving contemplation and beginning work on my BP blog (see link below).When I started investing in real estate I had a dream of wealth and the certainty that property evokes.Starting out with only student debt to my name, building wealth has always been important to me.Today that dream is still intact but added to it is a passion for serving others.Helping others make a home and providing for my family at the same time has largely replaced my more vague ambition for wealth.I enjoy being a provider of the roof over the head of my tenant.Being my tenant's keeper.It offers purpose, and one that feels wholesome.Why do you invest in real estate?

I have 3 scenarios I'm contemplating.

Are you contemplating buying a strip center and wondering how the lease up will occur??  

My purchase deal is scheduled to close in a couple weeks and I am contemplating how to best flip the lot.I am buying it for $13,500 (paying $10k cash to seller + paid seller's back taxes and court costs) to prevent it from going to Constable's tax auction. 

I see myself on that path and I will remember your story as I contemplate scale of project.

Then you could have a financing agreement.The $700 can be an issue as a payment over the entire term contemplated, intended, so again, have your attorney to review that matter with an opinion.