Short sales sometimes take a long time.Buying at the auction is very dangerous if you don't know what you are doing.

Insurance might be a sticking point, as a pit bull is an excluded breed by almost all insurers who exclude dangerous breeds.

If houses in the area were bringing more then 10-15k or the neighborhood wasn't soooo dangerous I would agree with you, but I was in the heart of the hood.

Personally, I find it difficult to find 20-30 great rehab deals in my area each year (this is why I'm currently doing fewer than that).

Fewer people chasing these, and even fewer that have access to very credible buyers and properties.Good luck,Brad

For a first deal, I would think a simple deal that has substantially fewer deatils is more appropriate.

The only thing I would be hesitant on is if the area is that bad/dangerous will you feel comfortable living there?

I am pleased to announce that as of 12/1 I am no longer in danger of insolvency and after paying back my "friendly" loans I am charted on a course in 2012 to be back to normal.

So fewer courthouse recorded foreclosures in 2011... about like 2009 (1511) and 2008 (1372)S-TR filing counts:Oct '10539Oct '11 1047Nov '10 261Nov '11 431Through November, from Jan 1, 2010, 4571 substitute trustee filings and from Jan 1 2011, 4452.

I would also say an electric unit is as or more reliable than gas, as there's fewer parts to break down on an electric unit.