You really need to know as much as you can about the business you are trying to be successful in. I

Again thanks for chiming in, I really appreciate your perspective.  

You might go ahead and get pre-approved for a loan just in case the owner won't do owner financing ( that way you learn the process somewhat and get some experience in what they require).As for the house that hasn't been lived in I would say check what local houses are selling for and that will give you an after repair value (ARV) [basically an idea of what a fixed up house is worth].If the owner is up for selling the property definitely get a home inspection so you know what you're dealing with.Hope this helps.

Now I can start doing some research on a market I am highly interested in. I

I learned as much as I could and then jumped right in. I

@Jake DaviesI saw your thread about multi-family, specifically in Ogden and thought I would chime in. I

When I do get the profits in, I don't spend any of it. 

The property I'm interested in is around 200k, and I plan to refinance in the future to remove the PMI.

Some areas seem to provide decent rental income and the prices for multi's still appear low (at least in comparison to other parts of eastern Mass) so it seems like a great time to jump in.  Is

and how fast things are selling in your market. of course, there are other possible issues that can creep in - I saw an article today about huge permitting delays (a couple months in some cases!)