It's a property that I can pay cash for and needs a few thousand dollars of TLC.

i agree with @rick@Rick Baggenstoss undefined when new development comes to these areas it puts a sense of excitement in the people that live in area. the risk comes in your ability to weed out the tenants that will be long term and be there for a while verse the tenants that will not pay on time or at all and won't be there for long for one reason or another. i personally prefer nurses or someone with a more stable job then a temp agency or kmart can offer. i also look for what kind of car they drive. its newer they might have a loan out which is a sign of a more stable income. also how long where they at their last address 3 years or more is a good sign. but even with all that under their belt the more personally issues might make them a headache to rent to.in regards to most "warzones" being black is entirely untrue. most are a mixture of all race. the term warzone comes from the crime rate within the city not the neighborhood and condition of the buildings within. there are some great people with these buildings that make great tenants and live very stable lives. thousand of diffrent situations that make them bad tenants and good tenants. your screening process makes all the difference in these areas but thats still no reason to shy away from them. real estate investing is suppose to be challenging and if your in it for just the easy deal minus the tuff then your in the wrong game.

David C, yes, I'd say the gurus are responsible for misguiding and misleading thousands, my point here is more to the ones who allow themselves to be taken in.

All I can say is when buying property and investing hundreds of thousands and millions of dollars in cash as a down payment you need someone ( an experienced broker, another MF investor, etc.) to bounce things off of.

We are talking about tens of thousands of gallons of water here.

In nearly twenty five years of working probates and speaking to literally thousands of people, I've only experienced two or three people who were so grief stricken that they had difficulty doing business.May I suggest that you have a little script, some notes and a checklist of things that ought to be in an initial conversation.

If you don't follow the rules and change something the wrong way its wasting hundreds possibly thousands of dollars (euros) because you'll have to redo it correctly according to the historical society.

If you need to spend an extra $100 on a new fan it shouldn't ruin the deal for you, otherwise you went wrong somewhere else along the way.

I'd say any national insurance company would entertain insuring thousands of properties, but forming an association for the sole purpose of buying insurance is a no-no in states so you'll need a mission, like promoting investor education or some-such.I'm sure you can get vacation package discounts, theme park and show tickets, cell phone plans.....an endless list I'm sure when you have thousands of members. :)

Thousands of transactions monthly are handled in this manner in each state without problems.