@Alex Craig  thinking a few too many zero's  1.1 billion in the Detroit market would be virtually Half of all the resi property  LOL.But for someone living there and living and working the dream I can see it.. there are great little brick homes there. no doubt.

I'm currently in the real estate industry as a vendor (3D Virtual Tours) and soon to be agent (Licensing exam on 3/7/16).

I had and have a similar strategy, you said I make the purchase is a market where I finished multi rental unit cost 30000 NFL - single cost maybe 40 or 50.Rent or lease option that home for 600 or $900 a month, refinance it for virtually everything you have into it, and repeat

If it would sell for that at auction I would not have to pay taxes and sewer bill so I would make 3800 for typing stuff into a keyboard and making a coup[le phone calls. as it turned out no one bid and I owned it as of the 16th of FEB.

I'd like to be able to virtual reality around a potential house rather look through a few photos on Zillow.

Lastly, I'm sure there are some reputable Virtual Assistants out there that perhaps have some knowledge of investing.

get a RE license first go to work for a training brokerage.. at least learn the lingo how to do contracts etc... then venture off into investing.. or you may just thrive as a RE salesmen.. stumbling around as a wholesaler may seem romantic etc but very tough in this market and because it cost virtually nothing to do it.. its over run with beginners. ( so get educated then see how it goes.)

The expense of the points of the hard money loan could not be saved by accelerating the project which could occur if credit cards were use (i.e. no points).A year ago I did 2 rehabs virtually concurrently and placed the entire expense (over $60K) on credit cards. 

Investing in out of state is very rewarding but is also very difficult and dangerous.BP is no doubt a great resource and virtually all of our success had something to do with BP.

The home is located in Portland, Oregon which is one of the hottest markets in the U.S. with virtually no signs of letting up.