Fortunately I️ have good credit so getting a loan will not be a challenge

I would join as many MF groups and stay engaged on BP (as you are.)The other thing to remember is that there are only two types of people 1. those in real estate and 2. those who want to be.

And like I said, it’s an area of considerable challenges in terms of crime and poverty etc. 

You might want to do a little research before engaging an agent.

And it is quite a challenge to find the right banker at these banks to talk to.The home I mentioned, bought as an REO, there were four adjacent ones on the block, and two of them the owners bought directly from the bank, from what they tell me, so as you say, is not unheard of.

When I first started, I serviced notes with FCI and had a great deal of frustration (I didn’t know at the time that all servicers had their challenges).

There were neighbors who were worried about the trash and rodents inside the property but we happy to see someone take on the challenge of this distressed home.Construction was estimated to be around $70,000.

I trust that you'll find tremendous tax saving opportunities simply by hanging around the BP forums, and even more so by engaging a real estate savvy CPA. 

To me, engaging these professionals seems costly.

Getting out of a bad partnership can oftentimes be more challenging than getting out of a bad marriage.Good luck in your future investing & education!