I haven´t found a local REI club either and since you are the first person I find that shares the same enthusiasm as I do, let me tell you what I'm doing and I hope it might be useful for you.After doing a Market study about rents within different áreas that I thought would be profitable to invest (and within my possibilities) I used my credit and leverage a 39k, 25 year loan with a 7.25% rate and bought a small one floor house (72m2), the owner agreed to defer the 3k down payment into 10 monthly equal amounts.My project is placed in Merliot, which I believe has favorable ingredients like job sources, low crime rate, easy Access, universities, commercial malls and I think the “Diego de Holguin” will bring development to the área.

@Jefferson MondragonI don't think there is much of a difference between Single Family Home, Multi and a condo.I label them all under 'residential real estate'.Condo might be the easiest of the three since the condo association takes care of everything on the outside of the house.You are only responsible for the inside.

People get stuck in minutia with contracts, get the main ingredients agreed to, then they are more likely to sign without changing anything.

There's three major ingredients to a transaction....a qualified buyer, a house/real estate, cash or access to a loan.

I really hope I don't get "labelled" on here as being a sales person because that is seriously not why I am here.

If you have some savings I would get right to scooping up a property that is rediculously underpriced just because it carries the "Detroit" label.

If you are just starting to flip, don't do these deals.The class of houses i am looking at on auction.com are labeled occupied but they are not occupied.

A great chef may publish a recipe, but that chef always leaves out a key ingredient or two.You are going to pay for the training either way: either through mistakes you make trying to discover those missing ingredients on your own through a series of flops, or paying a pro to share those secret ingredients with you. 

I did provide a curt response to a post above where the stereotypical, incorrect labelling of Canada as practicing socialism was offered-up.I would be interested in the town you saw which was sold by the {Federal?}

Yet private money for the inexperienced rehabber seems to be the most elusive ingredient.