Really a bit bummed, but it taught me about REOs and now I'm combing through the HUD listings now too lol.Anyways, everything you said makes perfect sense to me.

I'll start combing Youtube as well @Rich Baer, which works especially well for me because I am a very visual learner! 

First deal to get my feet wet in REI but have quick question.In contract with a property that I expect will cash flow $70-150/month (10% vacancy, 10% PM, $100/mo comb. capex/RM); cash return of 7-13%, excluding what I'd pay myself to self-manage.2/1, rentable condition, listed at 52, offered 32, in contract at 41.5. 

I'm a buy-and-hold investor so I'm not combing through the MLS (or other areas) looking for rapid flips.  

Find an accountant who has clients in that industry and have them go through the disclosed financials with a fine toothed comb.

If you're in a niche market out there and you're one of the few people combing over legal notices then I guess maybe you win?  

Looking to start investing with close friends and need a way for all of us to start combing our money together to start investing on rental properties

So that's pretty great.Lessons learned:Just because your cleaners do very well and make everything spotless in the beginning doesn't mean they will in the future (found some trash left behind a cleaning in a post mortem checkup)Comb your place for hidden cameras and other things your guests can leave behind.

Go over the place with a fine-tooth comb.

Scour those contracts with a fine-tooth comb.