After approx 1 year of owning the property, you can go to any bank and do an owner occupied refinance, subject to that bank's refinance rules. 80% should be doable with forced appreciation.  

Definitely doable...and though it takes work to get the systems set up, it's less daunting than most think.

Retail for home is 365kMortgages and Fee's total 700KHome does have some needs (remodeling cost roughly $75k)I just finished reading this: http://www.biggerpockets.com/renewsblog/2009/10/05/top-20-tips-making-offers-freddie-machome-steps-reo-properties/Hoping to compile something similar as the above article, like a short to do list.I am not emotionally attached to the property and do understand it may not be doable but I would like to give it my best shot since my wife and I both love this home..I appreciate everyone's input in advance..

There have been rumors that online pre license courses are coming in the near future but as of now brick and mortar is the only option.As for getting a license and having a full time job it is totally doable.

Yes wholesaling and other strategies take work, but they're doable and the more you do the more you can implement systems that make it simpler and more efficient.

I think the best way would be to have a Realtor and a mortgage broker look at all the numbers and see what is doable.

About 30% are 'kinda' interested, 10% are very interested, and 1-2% are actually doable.

Definitely check out both sides of Edgewood Ave when you come into town.What you're looking for is certainly do-able - although whether you're buying with cash or financing is a factor, and also how much renovation you're willing to do is a big factor in what rate of return you can achieve.I live in Murray Hill currently, and have rental properties in Riverside, Avondale, and Murray Hill.

FYI handling the mortgage of the condo during the rehab would be a strain but I think is doable with the combined income of my fiance and I. 

It is doable in 10 years but as you can see you need deep pockets to start.Investing in real estate is normally a long slow process to wealth not a race.