As we all know, the mortgage business has been a tough one for the past year so I was looking to do something to supplement the decline in income that I received last year.

What is so special about being one?

The only thing I can suggest is to go and have a sit down with a couple of different management companies that specialize in managing vacation rentals and gather some information from them.There are a lot of vacation rentals in my area, but oddly, even though I know a lot of people active in several different areas of real estate, I don't know anyone who has vacation rentals (except for one friend with a B&B, and that's not really the same thing).The only thing I know about vacation rentals is that they are extemely management intensive and the management companies charge a substantial fee.You have turn over every week, and someone has to be there to clean, repair, asses damage, and inventory all the household items.

I can honestly tell you that the myth the gurus are spreading around that you can purchase REO properties at 50-75% of after repairs value is just as much a myth and as rare as hitting the lottery in California specially.

If you do 1031 exchanges get asomeone who specializes in your area.

I have been running a successful painting business for the past eight years specializing in restoration, fire and water loss.

We suggest it may be worth dealing with an organization that specializes in your area.

The Countrywide site may be of special interest.Hope that helps.Annie

The laws on that vary state to state but in many states you will need special licensing to do that.

I would suggest to keep networking get a list like I said of all the investors send them a post card stating what you do even give a special offer for the first few jobs.