I find an REO property in terrible shape.

I think it is a terrible idea for an inexperienced investor to use the listing agent to purchase a property.

@Yiyi Guo, managing 4 units on one lot is not terribly different than managing 2, as long as you buy right and make sure you have good tenants.  

Painting shingles is possible but looks terrible and does not hold up well.

(note: if i am terribly off please let me know)Anyways my story is this; I met an "investor" via a mutual friend, good guy just not sure about his buddy the so called "investor".

They do well but it's not for the average person.I have met flippers who crush it Thunder bay also.The issue with those areas is that it's much more difficult to turn a profit, in say Hamilton or Kitchener, you could of overpaid for a terrible property 3-4 years ago and with the high appreciation we have seen you now look like a genius.

They usually do a terrible job, always putting mail in the wrong box (how hard could it be?!)

If you're a terrible salesman and only make $100k a year that still gives you a very favorable debt-to-income ratio to leverage.

A month is not a terribly long time to job search.

I know it is terrible trying to find a decent job, however isn't having some job better than having no job/income?