It's 20 acre horse farm with a 2000 sq ft house.

And of course (and it's like beating a dead horse), join your local REIA and network with other local investors - you may likely find a wholesaler with a deal or a joint venture opportunity.  

He said that would be a good way to learn about the business and raise funds to start buying properties to manage myself (looking to make this a full time position down the road).. is it putting the cart before the horse to get into property management before managing your own?

Goodmorining all,I Purchased a 10-acre property in north-west Miami Dade in 2005 (think Okeechobee rd and the turnpike extension).It has 40 horse stables and a 2-acre nursery.

Purchase price: $325,000 Cash invested: $400,000 Sale price: $1,400,000 Amazing 5 acre property with horse barn, cross fencing, luxury grade pool, and a house that needed everything.

Others will disagree - that's what makes a horse race as they say!

With proper management the home can be a great work horse, but don't look for any appreciation in the future.

Right now I'm considering the possibility of renting the land to cattle ranchers or anyone with horses or cattle.

I instantly imagined myself controlling a horse on the carriage with 2 ropes.Rick seem to be connecting the dots from both perspectives of creditors and from perspective of investors who creditors typically deal with when it comes to investors paying off first position lien or second mortgage liens, and stating that there are multiple ways of transferring deal using 2 strategies ... either using strategy of finalizing transaction to go through the final stages of probate (during either of the 3 stages) or buying off the lien judgement, depending not the equity...The probate concept of pre, open and closed state all have conditions that can be favorable or non favorable in relationship to you closing on the deal and getting it under contract.To be honest I am also a bit new to probate concept and tax liens and judgements and subject to types of acquisitions.All of this real estate Mumbo jumbo makes my head to be honest spin sideways.However, the multi dimensional factors and art of the deal from the standpoint of multiple variables and it’s inner dependencies indeed makes real estate investing quiet interesting endeavor to follow.As you dive deeper and deeper into variety of strategies... you gain compounded knowledge that in reality most certainly can be amazingly beneficial to folks who are interested in wanting to outgun their completion.In fact I would not be surprised at all with Rick stating that straddle play method of controlling the deals can outgun rehabbers using the power of negotiation.However... imagined if you can intersect the dots across multiple strategies and be able to rehab it... how cool would that be?

possible advantages: are lower price point (rent), quiet, safe neighborhood, close to groceries, and local college, and option for horses/livestock on property (county not city);   risks:  vacancy for ???