There is the Boston Area REIA (happens to be this Thursday) in Medford and you also should check out the Black Diamond meeting in Waltham.  

Rob, two suggestions:1) Check out the Bigger Pockets "Ultimate Guide to ___" books (such as the Ultimate Beginner's Guide to Real Estate Investing) and2) Check out a local real estate investor group such as RI Real Estate Investors Group (rireig.com) or Black Diamond Real Estate Investors (blackdiamondrei.com)Oh, and check out the Bigger Pockets Podcasts too (biggerpockets.com/podcast) - very entertaining and informative :)Welcome to BP!

As an example, when we formed our real estate networking group, I fought hard AGAINST the name Black Diamond because it didn't say anything about where we were located, and conventional wisdom says your name should describe what you do and where you are. 

The 10 ft section was heavier than it should have been , there were white tail mice , panty hose ,a bunch of legos  and cooking grease and a ring with a diamond .  

This really is a diamond in the rough...

Foreclosures can be a diamond in the rough.

It takes awhile to find a diamond but you will if you keep at it! 

He had a 10K While Gold Heart shaped necklace with 20 .05 carat diamonds around it.

The problem I find is everything thinks they have a diamond in the rough but they really have a turd in the yard (just made that up btw)If I weren't in San Diego i'd be all over that deal (based on your numbers and assumptions)

I have used appraised gold, silver, diamonds, notes and oil royalties, with an appraised value on deposit with an SKR as Tay mentioned with a letter of credit or a trade value stated where the bank would provide good funds.