Hi Joseph, there are endless locations and so many opinions on which different areas are good for STR. 

You will need a Letter of Intent(LOI) Proof of Funds letter(POF)Best part about REO is you do not have to advertise for property and you have a virtual endless supply.But you will have to submit ALOT of offers for the bank to accept ONE.So you must have a REALTOR who understands and committed to process.

The variables are endless and will depend a lot on your personal situation.

Armed with all of these tools, I have a couple other things driving me to my final goal: I have a huge passion for real estate, I have a strong background in RE financials & number analysis, I have an attention to detail, and I have an endless drive to be successful. 

At BP, the possibilities are endless.

Recently decided to join as a PRO member to give back to the site for the endless knowledge that is here at my disposal. 

And throw yourself to the endless real estate "gremlins and goblins" that stalk the streets of New York.Me personally?

Always nice when people appreciate my endless ramblings ;) 

They are sloppy with everything and you'll waste all your time correcting their mistakes in an endless email chain that will have you doing emails all damn day.

You'll also have to account for any marketing costs, holding costs, permits, closing costs, taxes, insurance, etc, etc...You might consider diversifying your investment by let's say just for example's sake:- Buy a $20k house with $10k repairs, and re-sell for $45k- Buy a turn-key rental for $40k for cash-flow and appreciation- Buy a private mortgage note for a property valued at $50k at a discount for $25 and receive cash flow payments and appreciation- Buy a $100k house on a lease option/purchase for a 3 yr term with $2k down, then sell it on a lease option for a 2 yr term, receiving $5k down and future sales price of $115kYour Options Are Endless