@John Dombrowski,I started in the REI world by attending a 'free seminar' and was taught that rolling your 401k money into a self-directed 401k is the answer.  

Hey guys, So a while back I went to a free seminar put on by Online Trading Academy (http://www.otarealestate.com/) at their offices in Irvine, CA.  

I have spoken at a number of REIA's on this method in three states, and will be teaching it in a 3 hour workshop seminar on Saturday January 7th for the South Jersey REIA in Cherry Hill (close to Philadelphia). 

@Mike ReynoldsIf you use the participant loan feature to purchase a property with borrowed funds, the prohibited transaction rules will not apply and you could work on the property.

You need to understand finishes, rents, price points, features etc.

In an effort to clean up the forums, we're creating an FAQ Forum, where the most-asked questions will be prominently featured, along with some really great answers.I need your help!

Stay focused on neighborhoods and better home features and you I'm sure you can put something together.The one glitch is your need for financing.

Dave, I think the house you mentioned was just featured on the Today Show.

Ive seen these on YouTube featuring houses - mine isn't spectacular but seems like it could help. 

Talk to your local REALTOR or do research on your own to see what comps have in your area and renovate the property to have the features that are trending in your area.