Scoping out neighborhoods is a survival tactic for me.Physical signs that I look for -* Dumpsters* Contractors coming and going* Elimination of poverty industry (Check cashing places, title pawns, pawn shops) in favor of more bohemian establishments (Coffee shops, box stores, cafes, etc.)* Clean-up and neighborhoods taking care of themselves.

I started off buying rentals, and then moved to other strategies like land development, spec building, note buying, wholesaling and rehabbing.I currenlty do rehab flips which is the large majority of my income.

I mostly purchase REO properties to flip, and a large majority of them come from contacts I have developed so I get them before the competition knows about them, that is my game.

I do a credit check and only look for outstanding major utility bills, no eviction filings within the last 48 months, 10 year national criminal background check, no serious misdemeanors or felonies, 100 year for sex offenses.

Mic,That is a major IRS violation.

With the majority of buyers, I think white shows better - light and clean.

Listed below is a summary of my financial and credit profile: Income/Savings:94K annual income (58K from primary employer + 36K combined from part-time work)20K in savings and have an additional 20K towards a downpaymentCredit scores: TransUnion 649, Experian 665, and Equifax 637 as of 12/10/11; credit simulator claims that my scores should jump ~20 points if I pay off my credit card balancesDebt:About 3K in credit card debt; all currentAbout 380K in student loan debt (majority from medical school); but all student loans are current and in deferment.

I think I'll go with the majority on this and list them both now.

On a tactical note, go into the call knowing about what you would pay if the property is in fair condition and practice saying those number out loud confidently (IE "Based on the information on the property I would offer 230,000 for it and cover all out of pocket expenses related to the sale.")

Now I'm working on owning the majority of rental property in the town I've established myself in.Good luck and let me know if you have any questions!