Our first major rehab (just last year), we lost a crapload of money.

He is looking to fund the real-estate deals, with me doing the majority of the leg work.

I purchased a house in 2006 for $455,800 as an investor and first time home buyer and I haven't worked for one whole year since then, so income flowing in is a major issue for me.

1) Take a look at the major lender and bank websites.

Why, because I don't spend the majority of my time talking, taking smoke breaks, and screwing around.

Yes, there is a major housing shortage because the university is expanding, but the SLO city officials don't want any more housing to be built.

The truth is the vast majority of newbies fail.

As of now im only birddogging but if i can convince the owners to sell, I will definitely buy one (or maybe both) for myself... assuming there is no major damage to the house.

With me being originally from Columbus county NC, and the rural coastal areas i believe the are there for bigger money investors, im just starting out and my line of credit isnt that big just yet, ive been in touch with realtors in the wilmington area but the homes after inspecting all have major isuues....termites...structural...or title complications....thanks everybody for giveing me this great advice, im not going to give up....Living here in Charlotte I believe the market is a tad bit inflated and everyone has taken a course or two in short sales or foreclosures, now when one comes available everyone jumps on it and it gets inflatted quickly taking the profit margin out...

If you are really close, then any major rehab item might cause you to scrap it.