If it doesn't generate fat piles of excess cash you don't buy. 

I've been doing all the research I can in the last week.

You can gain equity but you want to outpace inflation.Many buy in these areas and others for the appreciation more than the cash flow.If I just keep up with inflation I feel like I am just spinning my wheels.The 50k houses in Atlanta the investors were probably sold a bill of goods.We have properties here that sell for 4k to 6k in the war zone areas.The nice properties in great areas are gone in a day or two.These companies then out in a tiny amount of money and resell for a fat profit to out of town investors.Home buyers to live in your area will pay a premium.Have a broker/agent research the MLS.Has there been any solds within the last year even close to the price you would need??

Read & learn as much as you can in the shortest amount of time.

Hey there KC,Just wanted to say thank you for joining our site and I hope you learn as much as you can in the near future!

It is also common that a LOI is not binding.You CAN, in a lot of cases, use the local Realtor board boiler plate contract and add an addendum that clarifies or adjusts the verbiage.  

In the mean time meet with local REA, Investors, and anybody and everybody you can in the business.

im going to go against the grain and say instead of of maxing your ira take the tax hit now open up a brokerage account and buy into some funds. this will make your money easily accessible for when you find a deal. i used to put as much as i could in my 401k. now i only do 6% and invest as much as i can in real estate/my own stock pick/funds. i personally dont plan on working until my 60's so rather find use to help me retire as soon as possible.

Media often presents us as rich fat retired on a beach white guys (real estate publications don’t help this nor do blogs like BP with headlines like “Retire in 12 months with $1,000,000!”

I currently work overseas as an explosive detection canine handler.