This is kind of a general answer.

But I have never been to that area so would not know what kind of competition there is from local buyers..

You'll find a lot of these kinds of posts on the boards here.

@Jay Hinrichs its more like 10 to 15%..Yes, guys, I agree, I was trying to be kind to Realtors. :-)There is such a low bar to entry into the field, and frankly it is an incredibly complex job (once again, to do it right) Heck, I even had a license (in Cali) back in the day.

Hi all, just getting into the world of foreclosures after building new construction for the last six years.I have the data mining of pre-foreclosures and auction detail down.I’m wondering what kind of documents/purchase agreements are needed or work best? 

Banks do this regularly during any kind of financial hiccup.  

Many US investors pay cash for properties overseas because they have the money (like-kind properties are often much cheaper) and they can get a higher return than with most mortgaged US property if they buy the right property at the right price.

A $30 monthly fee ($360 total year) isn't going to cover that kind of damage.

I've been at the same job for 3 years now and in the same industry for about 12 years.I do live in the house I own, As far as the HELOC, that was kind of my plan to utilize that as a down payment...ive been reading about the DSCR loans, why do you say I wouldn't be ready for that as a first timer?

I would very much like to contribute as much as possible to groups of the kind mentioned.