I have been looking at it, but have not pulled the trigger on the course.

But we just can’t pull the trigger on anything.

This could trigger the FHA 100 mile rule however with a few exemptions.Indeed, FHA allows you to put 3.5% down payment to invest in 1-4 units.

I checked out ab968, looks like pre / foreclosures might be a good way to go if I can find them. thanks everyone for the responses, really great info. im actually starting to see more deals on properties in need of renovation so I’m hopeful I’ll be able to find some good flips when I’m ready to pull the trigger  

., whatever) it pops up another offer right on your face (meaning, they keep trying you to whatever cross selling, it is really a simple sales tactic, a psychological trigger to urge you to a decision to buy something). 3) Close the damned pop up, scroll down to the bottom of the page, and check anything on the footer that says "Privacy Notice - Terms of Use - Disclaimer" (It will be active and linked to another page, if it is underscored on hover of your mouse) - I went for the sweet "Terms of Use" - this is either a bought or internet stolen general legal terms twisted a little to fit their business verbiage façade (but you will see many errors of any kind), and here is the thing: legitimate businesses are really verifiable, and provide legitimate links!

Quote from @Jon Taylor: @Pete Harper - Section 721 of the Internal Revenue Code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) without triggering a taxable event.

This allows you to invest in real estate without triggering the 10% early withdrawal penalty or income taxes, and the gains can grow tax-deferred (or tax-free in a Roth IRA).

The main reason I'm asking this, is to understand how much cash I need to save up in reserves before pulling the trigger on a deal like this?

Of course this would be harsh on the current owner, but this process is bad enough that it discourages participation which would result in lower prices (if there were not inside buyers).BTW drones are handy on virtually all properties. 

This is the harsh reality (at least for me) to get where you want to be.