I look forward to connecting with other entrepreneurs, investors, wholesalers and or Private money lenders.

That's a fantastic quote to live by, especially in real estate where learning from others' experiences can save you a lot of time, money, and headaches.

We owe around $75k on the loan, but the value is near $250k. 

Only pre-foreclosures and people with other need money issues need cash fast, maybe like 10 percent of seller.

I generally believe insurance is not worth the value in most circumstances (otherwise those companies wouldn’t make money), but I am a big believer in umbrellas.

I would highly suggest starting with a rougher but livable/rentable multi so that you can learn and make money without all the downsides.

However, part or all of the money to buy this property will be coming from someone else's account.

I don’t have a lot of money right now and I was considering putting my current home up for rent and moving into a new home in a new location. 

We just bought a house in a highly desired older neighborhood.The owner agreed to owner finance it with 5k down over 5 years at 0% interest.We did put some money into the house to fix it up some.The rental income will cover the payments.Always ask for owner financing, the answer might surprise you.Work with money partners to do more deals.Join your local Real Estate Club and learn new techniques and grow your network.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.