I also heard that I could possibly do find deals online in other states is this possible or even a good idea.

I'm currently researching areas that would work for SFH rentals.One thing I've been doing is looking up deals online (mostly REO/fixer uppers) and then making fake Craigslist ads advertising the property to see what sort of response I get and what rental rates people seem open to.

Could not seem to obtain this info online.....Thanks!

You can bet that all the sovereign wealth funds that are making investments in these companies are making a return.

Now the way people throw around the world billion, $50 billion sounds like milk money.I bet with the inflation our country is going to go through after this bailout, you will actually need close to that for milk.

You're not collecting the rent, but still have all the expenses (well, hopefully you don't have to evict yourself, I wouldn't make any bets about your friends)You will never be able to get a loan in an entity without a personal guarantee.

Please be careful when you're buying properties on line or from seminars.

Maybe look for a discount agent who will place it on line and handle disclosures but not be required to do any showings or negoitiating.

Getting investor loans done with conventional lenders is tough and will get tougher.Local indy banks as you say are a great alternative. they are called portfolio lenders and they can help because they do not sell their loans to Freddie and Fannie.These small banks and credit unions don't work with brokers so brokers are not your best bet here.If you go to my blog (in my sig) there's a link there to my Portfolio Loan Blueprint that will help.

I seriously doubt with every bone in my body we need to be stocking up on guns, ammo, food, safes...etc.It's almost laughableI'll bet they thought it was laughable just before every other catastrophe in history.