But here are the basic numbers compared to last year where banks and big funds had thousands of accounts to bid.

I want to start bird-dogging or wholesaling since it's the "easist" (read cheapest and least likely to ruin you) to start out doing.

I am no expert on the subject, just making note of it for you.From what I understand, one of the rules is that the note must be fully amortized.If you don't already have these easy format purchase agreements you spoke of, it is likely that another investor in your area does, so I would start there, however, the contract is only as good as the verbiage in it, and with lack of experience, you may not have items in there you would likely want, hence, the attorney route.If you plan to make thousands of dollars flipping deals where the acquisition was with owner carried notes, why not spend the money on the attorney?

BP has the firepower to educate you with the folks here and that will be cheaper than paying for a course that costs thousands and apparently the right teacher never calls you.

I had a 70 year old guy and his wife lie to me, let me spend money on due diligience, several thousand, and then try to weasel out of the deal.I have had peers lie to me in front of their parents and family - right in front of family.I could give you a ton of stories - the reality is that there is no more shame in this world.Be Firm, Fair, Friendly in all dealings and do it all in writing.

Since there is no security deposit, be sure to factor (to your analysis of the deal) in at least a few thousand you'll need to keep in reserves for any repairs.

Think about it, if all the guru systems were as fantastic as advertised, thousands of people would be flipping houses all over the place competing with professionals and driving prices of distressed assets way high.

I am hearing everything from a few thousand to $40,000 to get it done, and everywhere between 3 months to a year.  

Hi MelissaThank you for your comments  i take it all to heart  and i certainly did not mean to sound hostile or frustrated  as i have been doing this for a very long time and am very happy you made 40thousand on your deal  my first one i made about 9 thousand but that was in 1975when a dollar was still a dollar  HA HA  i just closed one of my largest deals in Germany for 4.8 million Euros  love the business  would not do anything else .Just trying to advise people that real estate is still a long term investment and that getting rich overnight is not real.You have a great day and keep up the investing in real estate yes yes yes 

So I thought the the repairs would be in the hundred thousand dollar range.