@Kristine Pedersen I would confirm this with some of the full time lenders on here, but I am pretty sure you cannot refinance a 203k loan within the first year of ownership in to a non FHA product.

That said, this space is much more expensive new construction and larger than anything we’ve dealt with and pretty much anything else on the strip doesn’t compare.

Good idea, but.....I'm pretty sure that the owners just want to sell and not do anything like that.Part of why it's cheap.

There’s a lot of good stuff in there.Auctions seem pretty daunting for a new investor... so I’m thinking that might not be the best place for me right now.I’ve heard similar things about direct mail.

All that to say, I think that this deal could potentially represent a pretty interesting investment for us but given the high price of homes currently, I'm still somewhat torn.

Garrett Jack - Are there any free courses on Coursera, YouTube etc. without the pretty paper at the end?

There was no need for a special lawyer as the process is pretty standard.

Not that bad south of I-10 but can be pretty rough on the north side.

Its pretty rural with the closest city of ~5,000 being 15 minutes away.  

My properties there have been pretty stable with very little turn over although I would highly suggest doing a thorough tenant selection as with any rental.