And if they toy with bankruptcy courts, don't be afraid to show up at the creditors meeting during the BK proceeding. 

Its a dump.It is a small 900 sq ft rambler in a suburb but I am toying with the idea of short-term rental (there are no current rental restrictions in the city).Mostly because the company I work for is going thru an SAP software conversion and that is likely to have consultants working here in and out for years. 

I don't want to say I spend to much money on toys and eating out but my savings account will prove otherwise.

I would not go blow any of this money on new cars or toys or any of that stuff that tempts me when I have cash in hand.With the loan, your cash income is much less.

They use the cash for cars, trips, toys, and yes, even real estate.It is a tool, but a tricky one.  

I have toyed with the idea of looking for multi families in the UCF area, but many investors have warned against renting to college students.

Just wanted to give you all an update, since I started toying with the idea of REI (month ago ish) and joined BP, about a week ago, I have learned alot, but on to the good stuff, no deals yet, (I don't even have enough money or contacts to feel confident wholesaling yet) but I have done this...1. found a two decent potencial investors, (one on BP one CL) I'm in the process of scheduling video conferences with them as I'm out of my target area (Sacramento, CA) for a few months.2.

I have been toying with the idea of REI for a few years and I am really serious about starting out.

Unfortunately most people like new cars, toys, and big houses.

It's something I had been toying with the idea of - setting up a small account and see how it goes.