How much should I spend?

Find a local REI Pro on BP and spend some time looking into them.

Darrin will spend time talking with you about the deal and if you're a newer investor he can help steer you out of trouble.

Point is unless you understand how every single buyer on your list gets funding every time, you will spend more money trying to do math and lose the deal.

With the down payment spend here, we can own a property in OOS. 

It would be interesting to see what your plan is and why you want to spend that much cash all at once .  

In my mind you could find some terrible happenings by spending a little extra time and effort.

I am also biased towards the Hampton Roads area over Richmond.I grew up in Hampton Roads and know that market fairly better than I do about Richmond (I didn’t spend too much personal time there).Hampton Roads does have a lot of little gems.

Lets see , the house is in foreclosure , so the sellers are losing it and they dont live there , you think they are going to spend their money to turn on the water and electric for 1 day ?  

Be careful about spending money on courses promoted at group meetings.