She says her Grandmother studied law who is the one that informed her of this and knows this to be true.This may be specific to Idaho law or it may be legal in other states but not Idaho.

A fire was lit after reading that book...Since finishing that book, I've spent the last 6 months reading, researching, and studying real estate investing; Now it's time to get into action! 

Keep your eyes open, study the larger economy, and look at undervalued asset classes. 

I studied for my bachelor's in mechanical engineering and graduated fall of 2016.

Should we look to hire an accountant to do a cost segregation study for us?

A couple of things I WISH it had, if you are listening @Brandon Turner :-), are the ability to export to excel so we can do studies covering ALL years and a 'depreciation feature' like the Investment Property Calculator over at Dinkytown.com. 

Study the market to determine what the home would sell for.

We are looking for the elusive flip house in my area, the classic 3/2 block house with high enough comps surrounding to support the 25-30% target profit. 

If you don’t know what that means, get busy studying up.

Foreclosure is extremely state-specific as well as county-specific and sometimes city-specific, and you need to study the process carefully before you wade in and bid.