We still get lots of people who have been watching too many late night infomercials about foreclosures coming to town trying to pick up inventory without much success.

Yet other areas have enough inventory to get a good deal and yet enough activity to be able to sell the rehabbed property.You need to learn about the costs for doing the work, buying, selling, and holding the property.

If you go to a conventional lender, they will want a down payment.

I don't know if you're a buy and hold or flipper, but if you're buy and hold I can tell you that last time (in Houston) the big decline in rents TRAILED the decline in prices by a few years.Those rents STAYED DOWN as a lot of the excess inventory was snapped up by BUY AND HOLD investors who then NEEDED to keep those units rented.

I know nothing about the details of your market, only that there is a lot of inventory in FL.Assuming your numbers are good, you should be able to find money.

Conventional lenders will not allow it at all.

Plus I would love to rent it out until the market picks up but we couldn’t get approved conventionally to carry two mortgages.The house we are looking at is listed for $239,900, down from $259,900 when the owner first listed it.

On two of them the buyers were willing to go conventional but I lost the other two contracts.

It will be difficult for your end buyer to buy this property if they are using a conventional lender.

The most affordable markets are much more stable overall, with lower inventory and more brisk sales.