Very nice people there in that neck of the woods.

Location: Tampa, FLZoned: RS-50Lot size: 6,969 sq ftNew construction homes in the area are selling for at least 350k.*** Also, this deal has lots of red flags including the immediate 30k price drop, the 10-day fast close & the non-refundable 10k EMD.

In most states, foreclosures can be very risky:1) They are often occupied and you can't approach the occupants to see the interior.

Here are some common pitfalls I see for new investors from the private lending perspective:• Insufficient Funds: most lenders are going to be able to lend a first-time investor somewhere around 75-80% of the purchase price of an existing property + 100% of your estimated rehab budget (or an 80/100 loan, for short).

Welcome to BiggerPockets Spencer and best of luck investing!

Hey @Assou Mawuto Sermisoni, Great to see you join the BiggerPockets community!

Hello buyers in the Spokane, WA area and the PNW!

I do a good bit of long distance real estate investing and I am considering going into as new area. 

What made you interested in investing in this type of deal?

@Drago StanimirovicThank you for the abundance of information!