However, there IS a strong rental market...since most people can't afford to walk into a bank and get a loan.

Besides getting good contractor recommendations, you'll also develop some really strong relationships and potential lenders, buyers, or sellers.

If you negotiate a deal that will make someone else a strong profit, you will be in good shape.Overall, and especially with your first contracts, don't get greedy with your fees... start smaller until your reputation for finding good deals grows.

Having been an out-of-state investor since January 2004 I can tell you that you'd be far ahead of the game in other markets where the economy is strong and the numbers pencil out.As Brandon Turner has mentioned, there are some turnkey providers here on BiggerPockets.

I'd recommend "subscribing" to the entire wholesaling forum (when you are in the forum, you can click the "subscribe to category button" in the right sidebar) so when brand new topics are added you can jump in on the ones that you feel strong about!

If the house checks out physically, then keeping it seems a fairly way to play appreciation in a strong market, with you retaining the free option to bail out in the black swan scenario.

There is strong motivation to look at a creative solution, especially expired listings.Door knocking works.

It often doesn't seem to be practical to insist that the tenant complete the checklist in my presence at the very moment they move in.

;) I have just 18-units right now, all of which cash flow strong.

Many people build solid portfolios with GREAT owner-occupied financing this way.We have a BIG presence in the Texas area and I'm sure you'll be able to network with lots of people if you stay engaged here on the forums.Good luck & see you around.