It sounds like you'd be sticking your neck out pretty far in order to make this work, and I'd hate to see a bump in the road derail the entire thing.

@Tim OlsenThat sounds great I wish you were in my neck of the woods - lol.  

And were Bill is coming from on the predatory side of this is that at least with Joe Picketts admission most of the buyers of these homes are working class Hispanics with limited knowledge of RE.So for you in your neck of the woods you take a beat up shack in Ephrata sell it to a Hispanic farm worker for double what you paid for it  get a small down from the.. ( there was a lady hawking some of these were the down payments were 500 dollars) and hope for the best.NOw if your using this model on non owner occ and in states were no license is required for commercial loans for commercial purposes this works much better..

First rental 80-300k ( 20% down, 80% loan), prefer to keep some positive flow if possible, Or atleast neck to neck. 5.

As an out of state investor, you will have a business model that you can replicate in any market while local investors have not developed that skill/muscle yet.

Feel free to PM me if you have leads in my neck of the woods.

Need to lay down my neck is sore from looking up so much.  

I've never worked in your market, however I've heard on more than one occasion that your neck of the woods seems to have opportunity for contract flips. 

I was the first.. we wiped out some other creditors with this sale.. don't know if that helps but I can tell you being pretty experienced west coast trustee sale buyer  ( literally 100's of properties bought at courthouse steps) your stuff out in your neck of the woods is FAR MORE COMPLICATED..

I'm obviously new to this and very early in the process, so I could very well be missing something obvious here and/or not have the creative muscles yet to think through another form of house hacking.