Out of state investors can do really well here, but you can also lose a decent chunk of money if you buy wrong.Lots of out of state investors, especially those from California get a little blindsided because everything here is so cheap it all looks like a guaranteed great deal.

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

It is very easy to save money working in public accounting.I forgot what my dinner allowance was working at the big four 5 years ago in a major city(I think it was like $20?)

  :)  Many Indians send money back home to repay people that bankrolled their studies in Canada. 

I would love to talk with a lender to get a better handle on the products that help investors BUT in my strategy, I am leaning toward NOT using hard money at first(if I can avoid it).

And how much money are you making in your current job that you would want to replace with your real estate income?  

Notes are all about velocity of money - faster the money comes in the more valuable the note.

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

"Before borrowing money from a friend, decide which you need most".

I'm sure he could give you some pointers on setting up a business and creative ways to save money.