However the demand here is super high, rents are up, and typically when a multi or well priced condo hits mls it is going for more than asking.The purpose of my post is to sort of plan ahead if these areas don't yield results.

With some many families hit by the hard times it would be more unusual not to know someone.

Ned Carey pretty much hit the nail on the head.

Yes when the bubble popped we go hit hard.

So buying a foreclosure, doing the rehab and then finding a tenant and a PM seems a wee bit off our hands cause we're so far away from our next-to-be investments.I saw Dallas as a good spot but it seems that ROI is not as good as in Tampa.I've heard a lot about Kansas City : low prices with the approx. same ROI.Tucson is hit hard and foreclosure inventory stays high, but it may seem a good spot too.We dont want to invest in Miami as we think the town is pretty much overrated and wont get back to the insane level of median price.

If the lender is a large bank, the property will likely have to hit the MLS, but just arrange with the listing agent that it goes pending immediately and your offer is submitted to the bank.

Karen has hit the nail on the head for you.

There are times that we do take out loans for larger projects or bring in partners for projects, but even then do our best to keep it under 10%.I see some big changes that will be coming after the next election and I don't want to hit bottom.Our current president got voted for by some because they would get a free cell phone, they would no longer have to pay for gas, they would get free health care, and so on.

It's when Aunt Gertrude, the Axe Murderer, hits the news that you really have a problem.

It takes a lot of hits to make a home run...