With the help of family and friends I was able to do much of the work myself (and learn a ton along the way.)That experience sparked my interest in real estate investing.After building some equity in my initial foreclosure purchase, I bought a single family home within walking distance of a local university near my hometown.

I would walk from this deal if you are uncomfortable.  

I walk out of those coffee hours more motivated to succeed than ever! 

Make sure you get a copy of the lease to ensure that the lease can be transferred to you after the sale (assuming you proceed with the deal).I hope I'm not bursting your enthusiasm, but unless you can get a better purchase price for this one, walk away.

I cannot walk away at this time, the property is a non-profit and there is no one else able to step in.

I buy for location, and there are a few things that usually make me walk away - late last year I looked at something I was considering buying but there appeared to be a massive sinkhole developing at the driveway that was taking the slab with it - and usually those things are serious foundation problems, unsolvable/difficult to solve water issues, failing roof support system, no siding or severely damaged siding.

With what the owner wants to walk away with/owes in taxes/my assignment fee, the price is still 60 cents on the dollar, but you are buying the squatter. 

Since I have not been able to walk the property, I calculated $35/sf for rehab, bringing the total rehab cost to approximately $70k.

Just did a walk through of a potential investment property, and now I am estimating cost of repairs.I am looking for an honest contractor in the Pinellas County, Palm Harbor area to do another walk through the house with me, give me his estimate of repair costs, and potentially hire that person.

So, I'm assuming 30 min south of Joliet means you've got gas there and if so, I can't see why you wouldn't go with gas-even if somehow a heat pump can come anywhere close to the cost, as Rob mentioned, when trying to sell the buyers will walk in and say "Electric heat??!!!