Here's some reading to get you underway with your "big task":http://www.biggerpockets.com/forums/93/topics/54108-buyer-s-list-how-to-

We have owned it for 3-4 years now, Paid off, Pulling in around $1000 rent a month before taxes/insurance.We are also considering a self-directed IRA route, since we don't have much liquid at the moment but are eager to get another rental underway!

Wait until construction is under way, then come in and grab a great deal.Another way to see how the area is doing is to call up 5 businesses and speak to the managers and get their opinion on the area.

Wholesaling will avoid that possible situation where you get hung out if the fix-n-flip is not selling.Best wishes getting underway,

Once I had it under contract I went back to the lender to get this underway.

Best wishes getting underway.

Originally posted by Bienes Raices:Basically I am posting here because things seem to be reaching a 2008-style panic level again in the last few weeks.Consider that the mainstream media doesn't have many other major issues to cover these days -- Casey Anthony trial is over, the debt ceiling issue has been resolved, no major sporting events on the horizon, etc.Also consider that campaigning for 2012 is just getting underway, and the economy is a big hot button topic that many Presidential contenders want to keep in the forefront of our minds (it helps their chances of election).Once there is something else to occupy the "Breaking News" portion of mainstream media, and once we get through November 2012, other things -- wars, celebrities, ridiculous political arguments over things like gay marriage, etc -- will once again take over the mainstream consciousness.

Good luck getting underway.

Also, as you are driving around looking for properties drop in on renovations underway in homeowner areas.The key is to find out what each rehabbers is looking for... beyound just the great price.Things like geographic area, certain building styles, number of bedrooms, age, and others, could all be specific criterial of any rehabber.As mentioned above you will find that there will be just a couple real buyers on your list... everyone else will just be foundation kickers.

Lots of good karma here.I'm already under way!