The much larger group 1 is the people who are naive and due to their lack of knowledge, experience, and possibly limited capacity, get “suckered” by the scammers.The smaller group 2 are those that understand but don’t care if they’re part of an unethical undertaking as long as they make money themselves.  

Most of the time, you can purchase a property with tenants already in place, but the leases often need to expire within a certain timeframe—usually around three months—so you can establish owner occupancy.

Second thought was to give away the home free to whomever is willing to do the work.( look for this in the classifieds if I end up with the property.

I wanted to connect with any folks with connections in the Prescott area!

Quote from @Juan Ruben Cortez: I believe the funding fee is 0.5% of the remaining loan balance, plus maybe another $500 - $1,000 in lender fees. 

Here are some ideas to make raw land pay for itself:RV or Tiny Home Rentals: Set up RV hookups or tiny homes for short-term rentals.

I have the information I need to send letters to the owners of said lots. 

Approached the seller asking they pay all closing costs, received enough credits to buy down the interest rate back into the 5-range (current rates were in the 7-range).

Hi Myriam,Welcome to the BP forum and starting can be a little confusing but that is why we are here to help. 

It should really help you avoid a lot of mistakes other out of state investors make here.