I’d appreciate any guidance or tips to get started on the right path.

I would also weigh if you plan on staying in the home you are in now for a long time or move in the next 5 years.

We were recently networking and someone told us about buying homes from auctions.

They are there due to a flood in their home.

@Frank Hotard oh man the joys of home ownership! 

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

I have a situation where a person I know is moving out of the country and would be looking to put their home for sale in the summer.

Hi, I bought a home last year in Lancaster, California.

Purchase price: $145,000 Cash invested: $15,000 I obtained the home 9 years and am holding it for cashflow as a single family long term rental.

If you’re in the position to buy multiple deals because this nursing home may get properties frequently.