If the realtor doesn't invest in real estate you better have time and strict criteria to work them through.

We will be on a pretty strict budget. 

Oregon has very strict anti equity skimming laws.. if accused of that and found guilty they make you walk the plank.. along with civil penalties.when buying a pre foreclsoure it can be done you simply cannot:1. rent back to the family that is losing it. ( which I think is pretty stupid)2. you have to share profits with them and are limited to how much you can make if you flip the house.3. you have to be a licensed foreclosure agent to work with them or have one rep you in the transaction.   

I'm not a CPA, so this is strictly my understanding.

When banks deal with those loans, they are subject to fairly strict regulations on when they must enforce the due-on-sale.

There are very strict guidelines for how members are supposed to fund their LLC, and even significant tax advantages of doing so.

I now have very strict requirements on file with my management company as I've had too many pet problems through management that just didn't happen when I was self-managing and could deal directly with the tenant.  

None of the banks will admit it, because redlining is illegal, but most of them are really strict about WHERE they will lend.  

From a strict tax savings perspective Brrr with 1031s interspersed where appropriate is the way to go.2.

I have not needed an attorney, so I can't recommend one yet...but make sure you go to the court website, there is a checklist and courts are very strict that you have to follow instructions exactly or case will be delayed and/or dismissed.the forms you need are on this page...http://www.courts.state.nh.us/district/landlord.htm    click on the "landlord/tenant checklist"