I can't have them recording to a DVR because then the thief could just steal that.And if I have 4 rehab projects going on at once, that means probably 20-24 cameras all capable of recording at the same time.

Make a daily habit of reviewing what comes on the market,tour new areas etc, so when a good deal comes your way you can recognize it.Learn what stuff rents for, introduce yourself to players( agents, contractors etc)Essentially become an expert on the area of interest

Of course, if you bring this foreclosure to their attention, you're basically alerting your more capable competitors that there's a deal to be had here.Again, this probably isn't going to be your first deal, and if it is, it won't be a bargain.

Believe me, you wouldn't want him to treat your property just as he treated his own - you would want better, but given what we see in his properties he is not capable of any better.

With the relatively high rate of savings you're capable of and the slow rate of acquisition, you will have ample time and flexibility to react to unforeseen circumstances as some others have said.Something I haven't heard mentioned yet in the thread is that properties with conventional financing automatically tend to de-leverage over time. 

The other problem is I haven't exactly figured out who all the local players for this type of project would be.

You would need to look at a self-directed IRA type plan for those funds.If you are self-employed with no full time employees, a Solo 401(k) is a great retirement plan with some advantages over the SEP IRA in terms of ability to make higher contributions on less earned income, some powerful Roth features for new contributions and in-plan conversions, and availability of participant loans for emergencies.Wall St firms offer such plans, and even call them "self-directed", but that just means you get to choose from the investments they offer, which will consist of publicly traded stocks, bonds, funds, etc.If you are interested in a self-directed Solo 401(k) capable of being invested in non-traditional assets such as real estate, trust deeds, etc., then you will need to work with a specialty firm that implements and supports such plans. 

He was referred to me by a relative and he seems capable so I haven't bolted just yet.Thanks,Jason

@Skip Gilliam Your website is one of the first places where prospects will go to check you out, so yes, you need a decent website.At a minimum it should have an IDX feed with robust search capability, an "About Me", "Contact Me", client testimonials and some blog posts.I use Agent Marketing. 

Also means a person capable of rehabbing a home should be able to make a good living flipping