Hi @Fred H. and thanks @Douglas Dowell for the shout out,Stay away from distressed sales with sub2, look for low equity deals that are not behind on payments for sub2, lease option assignments and wrap - aitds.A great attorney for distressed property is http://eckleylaw.com/ourfirm.aspYou are only as good as your RE team in distressed property in CA, lots of consumer protections.See http://oag.ca.gov/consumers/general/foreclosure_sc...My Ca bus modelsub2, lease option assignments, and wraps on low equity current dealsall cash for delinquent deals, negotiating delinquent secondsinstallmet sales on free and clear housesAll no banks, using seller financing or private 1st mortgages

My main private lender lives in a modest house, in a good neighborhood,  drives a clean well maintained 1998 pickup, dresses in jeans and tshirt typically, always seems to have coupons for any place we meet/eat including mcdonalds.

These past few weeks I have been just consuming as much information as possible and learning as much as I can, going through all the trials and tribulations of a "newbie" but have expedited my knowledge through bigger pockets, and for that I'm thankful.

Ally tried to hold a deposit of mine for 21 days once and the chic quoted some law saying it was mandatory, I looked it up, read it to her (and it was pro consumer, not the other way around) and she still couldn't figure out what she was saying was total BS. 

Hi Brian,I am not sure if "Podio" has a language option, but it was discussed on a recent BP podcast and it is available at no cost.Worth checking out.I believe it is cloud based so they may be more efficient way at adjusting to consumer needs.https://podio.com/

The May 2014 Realtors Confidence Index was just released and can be found at http://www.realtor.org/reports/realtors-confidence...Interesting outlooks on distressed properties and a good map indicating the hottest states for appreciation.Basically, confidence for the next 6 month is soft, but agents expect modest appreciation almost everywhere.

Also be advised that if you sell to an owner occupant, the loan is governed by Dodd Frank and the Consumer Finance Protection Bureau guidelines now in place. 

How does a person with a modest income ($43,000) obtain financing for their first rental property?

And even when it's not, it's time-consuming.

I one time offered a modest buy out to a tenant of an illegal unit ($5,000) and found out that they were planning to leave once they had saved up $800 for the security deposit for a new unit - they would have left on their own or perhaps for a much more modest amount!