I could do a lot with 150k if you want boots on the ground in Alabama.

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A ground-up construction loan for a new investor on some vacant land would also be a no-go as you must be able to show successful exits (refinance or sale) from a few projects before that's an option.So, we need to be able to see funds in your account that can cover the down payment, closing costs, and some reserves left over that will allow you to start your rehab.• No entity to close in: Though an LLC/entity is not a must-have, it's a nice-to-have prior to seeking financing.

@Seth Rose Best if you have some boots on the ground team that can meet with contractors. 

We do ground up construction of 3-4 units in the urban core of Columbus for investors all over the country. 

We had money and access to creator over and above the cost of the course so we were able to hit the ground running.

The investors that I work with value that we act as their boots on the ground for the transaction and normally use the equity gain to buy the next property.  

I can agree for the most part, but I do have a prime-time lender who will consider non-recourse for fix and flip and ground up construction. 

You can hit the ground running with a large cashflow 

On 6 acres of ground, plenty of parking.