Bp is a great source of information.

Meet up groups in your area are another great source to meet others.

This is a good source of education.

Along with another big point is PM the lower value asset class's are High touch and PM is critical and as most PM companies grow they soon learn that these types of properties are not profitable for them to manage because of the extra work involved so I see the better PM's moving up in asset class's and leaving these types of homes behind...Its not that you can't get lucky and I am sure locals in Memphis think this is nuts but they also source there deals so what they get for 50k may not be what someone from CA can get the same home for in the same condition.My real experience came when I learned  as a lender in possession of a multitude of Memphis properties ...

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They are an excellent source of information.You can also find motivated sellers by starting a direct mail campaign targeting absentee owners with high equity.

Is this far from your work or income source? 

Disqualifying based on source of legal income = ILLEGAL ain't it?

Having reserves is critical to long term success.

Near all my money has had to come from private sources which are a very different can of worms from loans.