So like with everything foreclosure the funnel is wide in the beginning and by the time you get down to ones you can actually buy its quite narrow.

I will be moving to Austin myself in two years, since Austin market is quite dried up, thinking of investing in SA as OOS.

Paying ~12% of the loan in fees/closing costs is quite high.

Find the potential quite appealing.

But anyone who considers themselves a GC for hire, it's a bit odd they wouldn't first get their ducks in a row, it's quite easy.If it was me, I wouldn't worry about him not being licensed/insured, I would just make sure to vet him.

Even with the property management you will still have quite a bit of work to do if you own over 100 properties to make that happen.

Have quite a few out of state investors that we've worked with to get them great cash flow and tax savings. 

whats the issue if you are the one underwriting the loan and it goes bad it should be quite rare to now want to charge your investors for something they did not do I suspect is going to be stepping over dollars to collect pennies.. taking care of your clients long term is part of doing bizz like Chris mentioned.. 

Jonathan, It stinks when there are obvious great deals that go by, not being quite able to jump on- board.

The expenses though are quite a bit higher since it is a bed and breakfast.