Hello All,I am expecting to close on my first rental property in 2 weeks and I am extremely excited but i do have a question for you all that are more experienced with buying rentals. I am currently buying my rental t...

The traditional vacation rental areas are always great (PCB, Destin, etc.), but they also may be starting to get saturated.

(I include this only because I wonder if its relevant) Ive been listening to BP podcasts and wonder , should I only look at homes in foreclosure (what is an REO) what is considered a good deal on a home Im about to purchase (do I look at the sales of the other homes on the block) Should I stick with neighborhoods only or do  i go after a bargain thats sits alone out in the country(Is there a large market for those that want to live away from traditional neighborhood) What about these auctions at the courthouse...buying the house with a cashiers check?

A lot of the secondary market consists of people saying "I've got $50m and will purchase the next batch of Fannie Mae loans, paying 2% more than Fannie" -- so obviously that next batch goes into that MBS pool.That's what those people do now, but back then they decided it was more profitable to purchase crappy products than gold standard traditional Fannie. 

I'm guessing they are pretty traditional with their views on careers, go to college, get a job, work until you die.

Long-term, I'd like to hold traditional and vacation rentals locally, in KC and at The Lake (Missourians know there is only one 'The Lake', haha), as well as in some of my favorite travel spots.

That makes it even more complicated if municipality charges wont appear on title search.I wonder now, in a "traditional sale", how does the Title search company determine the Municipality liens and encumbrances - and clear the title for sale?

Hey Biggerpockets, My name is Eugene and I've recently become interested in real estate investing after talking to a new friend about real estate investing over more "traditional" investment opportunities such as equities or fixed income.

A Non-recourse loan is similar in effect as a BK discharged traditional loan.

Here is a breakdown that can help you get started.Purchase Price from Zillow- 84,900 (negotiate that) You need to find out what properties are selling for in the area.Are you attempting a traditional loan?