Feel free to call.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Walk through some homes for sale?

I did a quick and inexpensive renovation, rented it for $650 with no problem (45% above what he rented it for), and had it appraised for double what I paid, so when I cashed out I walked away with more money than I spent on the purchase and reno *and* left 25% equity behind in the house, with a house that cash flows roughly double the mortgage/insurance/taxes. 

in hindsight, you should have bought the property sub2 from the owner as soon as he started missing payments. take over his payments for him and he deeds you property and walks away with no foreclosure on his record. its probably too late now as the bank will want to recoup all the money and most likely list it with an agent. good luck i hope it works out.

You get to walk away with $30,000 cash, and you are no longer responsible for maintenance and other holding fees, and the property is held as collateral if the mortgage is failed to be paid. 

I recommend that you take some time to get to know your farm area by driving/walking it different times of the day and signing up for automatic alerts via Redfin, Zillow, or through an agent so you can be notified of house sales in your area.I wish you the best!

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Been involved in attempting my first deal but we walked away this week as we didn't want to overpay on the building.

Interview some contractors and after choosing one, schedule a time to walk through the home with a contractor to get a better estimate.Have the home inspected.

I was walking my recently purchased duplex with my contractor whom I've known for 13 years.