I would analyze it as if you aren't living there.

If they aren't then they will probably run the seller off.Frank

I've worked the MLS, mostly foreclosures that aren't in terrible shape, but I'd recommend also looking for some wholesalers to buy from.

In Florida (I'm a Real Estate Attorney here) I see wholesalers costing themselves money because their Contract and assignments aren't done in their favor, or losing deals all together.

Like I said, there just aren't that many places by us, and most of them are stick built Amish homes.

So I would highly recommend you checking your local laws as that could spell it out black and white what you are and aren't required.

There aren't many or any tax advantages to RE unless you own it for 366 days.  

Commercial loans aren't always 25% down, get in the business now, learn cross collateralization techniques, blanket loans.There are other techniques to acquire ownership, like a TIC, look for tired landlords wanting to retire, distressed owners and properties.

i work in the oil drilling and service ind for a while even in tx. if the land is at and acre they aren't going to do anything with it or to it because if they want it they can just drill horizontally to get it, drilling requires at least an acre of land to put a well on.

If you aren't in violation, contact an admin.