Rule of acquisition #74," Knowledge equals profit".You need to do a ton more research and due diligence before you agree to anything.You need a power team to help you make this decision,an experienced realtor who also is a property manager and knows exactly what the property will rent for with some redecorating completed and a great contractor who can point all all the flaws in the property that are going to need replacement or repairs in the next 10 years.Rule of acquisition #3,"Never pay more money for an acquisition than you have to".After you have identified the flaws in the home(needs new roof,plumbing,electrical,appliances,etc) you can offer a better price the property knowing the actual retail value of the property and not just giving him what he wants.No one should ever by an investment property with no hope of steady cash flow after the tenants move in.Complete your due diligence and remember always rule of acquisition #18," An investment without profit is no investment at all".

I'm talking with REO specialist (realtor) whom I have not met in person.

Zillow is also another place I’ve listed and gotten messages from insurance relocation specialists and corporate clients. 

Some of them will charge an inspection fee $50-100, some will do it for free because you do good business with them, either way it will be worth every penny.My key areas to check:Foundation - if its really old get a foundation specialist to check it out. 

With 38+ years of mountain land buying/selling & brokerage in the North Carolina mountains, my objective is to locate bargain land parcels here in the mountains. I also represent large tract owners.

I've autho...

I was contacted earlier by a representative from Yodle.com...he promises massive leads for a Buyer Specialist in my area. 

That gives you more flexibility in your search for a CPA as you don't need a specialist for your state.

It can get ugly fast if someone doesn't have experience or knowledge.As Basit said above, there are lots of tax pros on BP who are not only specialists in RE taxes, but are also investors ourselves.

We're also growing like crazy, so tons of cashflow opportunity.I'm a real estate investment specialist in the Oklahoma City and Tulsa markets and I work with a lot of investors like yourself to help connect them to investment properties.

I don't think location of CPA matters (in terms of proximity) but finding specialists in real estate might be upping the price.