Which has given me a couple of leads, some are pretty decent ones too. 

Another 10%, the CoC return is still decent.  

It does decent cash flows.

Needs some rehab but looks really decent in the pictures.  

This is my first shot at posting on the forums.  

I earn a decent amount at my job (I am a corporate lawyer) but since the recession, permanent legal jobs have been hard to come by so I have been doing higher paying contract work--I've been at my last gig for 10 months but you usually change jobs every month. 

@Joel Comino  I don't think you need a lawyer a decent RE agent or broker could put this simple paper work togetherwhat you will find though is a HML is not going to make a loan unless there is substantial CASH equity in the deal.. in our market here were the lot value is usually 1/3 rto 1/4 finished value having the lot free and clear and only borrowing vertical works with the HML.2 and 12  to 4 and 14 is what  you pay..

. :)Sounds good and boots on the ground is huge.We love the 43615 zip code and trust me, you don't want to sell it to me heheI wouldn't bother with the MLS either, all decent deals get snapped quick.Send out a 1,000 yellow letters and you should pick up 1-2 deals that are much better than MLS listings.Much success

I've spotted a property on the county tax auction website that I LOVE; it looks like it needs all the right things and sales in the area are decent.

I'm new to investing as well, but I think in Louisville you can find several properties at the 1% rule mark in decent areas.