I didn't mention it, but it's definitely important to have the correct sheen, and to always use the same brand of paint.

I appreciate the insight, it is definitely something to think about.If I decide to move forward, I just hope I don't end up in a jam with this deal...raspberry jam.

Apparently Congress is floating the definition of a primary residence as 5 years.

This path makes sense because buyers will feel they are getting actual value, possibly saving them money for an real inspector if there something grossly wrong with the house.

@Jennifer Rivera definitely connect with @Mason Weiss if you have not already!

I'm unsure what the right path is, but I've been reading about investing in owner-occupied, multi-family properties.

Depending on your desired investment return and path, you can then structure your deal.

Definitely going to jump into real estate.

I would definitely have some cash reserves going into any property purchase. 100% of homes break.

As Wayne Brooks said above, anything publicly listed (REOs, HUD, Homepath, etc.) has already been seen by the agents who represent the institutional buyers.If you happen to get one of these under contract for a price below what another investor will pay (unlikely these days), you can definitely still do a double close, assuming there is no resale restriction from the seller.That said, if you have these large institutional investors in your market, you're probably going to want to focus on off-market deals that these guys aren't finding themselves.