Wayne, David, Mark, any comments from you experienced HUD home purchasers?  

Romica, using hard money is definitely okay, but all experienced investors graduate to private money eventually (if they stay in the game).

Here's what I know:The city of Corpus Christi has a 3-yr apprciation rate of 5.9%The city of Corpus Christi has a 1-yr apprciation rate of 6.7%Zillow predicts that the neighborhood will appreciate at 7.4% in the next year.The house is on an island, so expansion is limited but has not yet capped as there are still vacant lots scattered in this area.This address is in the best school district of the metro areaThe city experienced 10% net population growth 2000-2010The city's two main college campuses had a combined enrollment of over 22000 students in 2011.The city's top ten employers are in the sectors of military, education, health care, contruction, government, and grocery (local grocery chain headquartered there)The house is a 3 bed 2 bath, which is on the small side of avg for this area.What more what YOU need to know before deciding to invest in this area?

It is always good to see experienced members coming on to BP, I am sure you will have a to to add in a lot of conversations.

I'm wondering if someone from this forum ready to guide me basics of RE and what needs to be done to grow myself.I live in San Jose,CA , working as IT engineer but want to enhance my career in Real Estate.Thanks for your help in advance.

But I would more comfortable knowing what experienced investors would do.

I've had dealings with these properties in the past on the engineering/management side of things.

Investor, through his agent, states that he has about $165,000 invested, which includes engineering fees and architectural work to plan for the huge renovation.

There are a lot of experienced investors here, and when you pair that with BP, you can really solve any problem or answer any question.

One of the guys doing my stucco work advertises in Craig's list all the time and is very experienced.