There are some really GREAT syndicators out there  but choose wisely its all about the sponsors ( there are a few great one's on BP) but also many beginners on BP so cautious there.7.

Obviously the condition of the market, and the costs associated with fixing it up are vital, but in terms of the buying process (i.e. pre-approval, loan, interest rates, etc) what should we be most aware and cautious of?   

It takes a very well established outfit to pull this off... just some run of the mill or upstarts one needs to be cautious.. the mid west is littered with folks that tried this and sent rehab money and ended up with no rehab done  :( or really crappy work... so while I agree with the statement.. its even more important to vette who one would do this with.

I have 1.4 m in real estate and my total leverage after 2 cash out re-fi's since November is 41% leveraged, including my primary residence and my car loan.I am over cautious and I know I am missing opportunity I have a car loan and include that as a real estate loan because after the car was paid off I re financed it and used the money for a down payment on a duplex. 

Just some friendly advice - I would be cautious to post these incriminating thoughts on a public forum with your name attached for your intent with your home purchase.  

Thanks so much, I am new to all this and don't want to waste time or money.Hi Brian,It's great that you're being cautious with this potential property purchase in NC.

When I read @Ricky Cassidy post I just want to tell him be cautious when purchasing a property in Mexico, since I don't want to see him make the same mistake I had made, and that's all..I agreed with you on most of your thoughts.

I'm pretty cautious about scammers and pretty reserved to jumping in.

Appraisers were more cautious then due to the crash, and it was harder to access equity.

@Bonnie Low please be cautious with HELOCs, most are adjustable rate and float with the 10 year treasury rate.