But when questioned about the basics; neighborhood comps, ARV, FMV, key points of Deed Of Trust, difference between a Special and General Warranty Deed, etc, etc, they didn't have a clue.

See above.My places were always the best looking in the neighborhood.

However, what is not mentioned that not ALL types of investing work anywhere.For example, someone who wants to invest ‘SUBJECT TO’, by taking over payments from owners who have zero to little equity in their homes, must realize that they will have a much harder time finding these ‘upside down’ owners in older neighborhoods, where most residents have their loan balances paid off or just about paid off.Rehabbing would probably be a better strategy to pursue in OLDER, more established neighborhoods.However, here is another problem.

How ethical is it to know there's a perfect house in the neighborhood a client want/needs and avoid that block just because it's a FSBO and won't pay 6%?

People that look for real estate in a certain area are either in that area or look for websites featuring listings from that area.The real estate websites are all powered by their respective Board of Realtors MLS feeds.So even if you have website ranking first for a competitive search term (Aspen Real Estate, if your property was in Aspen) you would still miss out on the 100's of website from local real estate agents that could feature your listings.If the project is big enough it could work to just focus on web advertising with pay-per-clicks on the major search engines.

I can give 20 minutes of ANY Day 2 returning phone calls4"damage control" or whatever...then go back 2 vacationing w/o the worry of "what's happening w/blah,blah,blah, & have a BETTER time Relaxing...that's just me.Hoping I planted a seed that will help the neighborhood & rehabbers(&U of course) prosper in Your future;& in finality(absolutely SHAMELESS Plug here) When(not if) the borrower calls up so excited they can barely speak that just found 750 acres for $25M that they can develop into 1 acre lots for $75k per lot, they just don't have the 20% down & 3-5 million 4 infrastructure & marketing....call me, 24/7/365.

Jeffrey, have you looked into the HUD Neighborhood Stabilization Program as Milwaukee is spending the money?

3.Choosing the wrong markets and neighborhoods to start investing in.How do you find out which ones are the wrong neighborhoods and markets?

Buy the ugliest dog of a property in a good or great neighborhood for around 50 to 65% below the current market value of similar fixed up properties in the same area. 2.

I found this house in a great neighborhood that needs rehab and is being sold for very cheap.