Here is 3 scenarios1) invest $30k today and in a year invest $41k which will generate $900/month rent (no idea how you make money at these rent points but that would be a separate post)2) invest in money market currently ~5% for regular money market, currently ~5.3% for preferred customers for a year.  

@Abby Flynna few random thoughts-definitely stay local (for now) - you have a lot of great markets within a couple hours of where you are-it's very difficult to 'start' with a flip - flips take capital and you're going up against all the professional flippers who flip as a business-go to all the local REIA meetings within a 1-2 hour radius - find the ones you like - go to those regularly-call lenders and discuss loan options. 

Not totally unusual - even some of my regular lenders frequent the same pages.

I attend the SSIC meeting regularly, and they are very good with a lot of really useful information.

And they have to be checked regularly for chlorine and pH level. 

These people interact with investors and landlords regularly, and if these Realtors trust you are good at PM, and that you only do PM, they will be likely to refer you business. 

If I kept it as a single family, 8 bedrooms is a lot to rent it out to a regular tenant so I was thinking about doing a pad split instead. 

Not that it really matters I guess, except if you are trying to buy at auction...where you'll need cash.Yes you can get a regular loan to buy a house that is in the foreclosure processYes you can get a regular loan to buy a house that is an REOYour friend and the "Construction Loan" is assuming the property is a wreck...

https://www.rentecdirect.com/b...If a PMC shares the confidential information of a tenant prospect with an owner and that owner somehow allows the info to be used for identity-theft or other related crimes, the PMC will be sued!

If no regular markets will help often coverage can be secured in the Excess market.