And the profits are virtually tax free.As for lenders, it depends on your credit.

It's exciting, we're on the right track!

Partnering up and investing in flips or buy and holds gets me into the game of being an investor right away and helps me build a track record for lenders, which opens the door for better financing eventually.

Of course buying HUDs is an option but be choosy because you may find a GREAT house in a not so great area.BANK and ESPECIALLY local Credit Union foreclosures are a dream, as owner occupied you can negotiate repairs, new wood flooring, HVAC units can be installed and cost added to the purchase price banks will add New Appliance packages and even BLINDS for all the windows.  

Generally speaking on SFR's there simply is not enough equity for the Fed to do this.. they just track the defaulting owner.. the lien is removed from the property after 120 days but its still valid against the tax payor.

During this time I've also been managing a property of a friend through airbnb and have liked the process and want to start on my own, now that I also need to have a place to live in.My question is, with 10K in the Miami area, can you buy or at least use one of the next options as a way to start: sign a contract of a rent-to-own with a lease optionseller financing or I've even heard that you can also buy a property with not a lot of money in foreclosureIs one of these a way to start with 10K cash and no credit built?

Hello, I am looking to acquire additional long term rental assets but am running into issues finding a lender that will fund me due to the fact that I had a foreclosure 4-1/2 years ago.750 credit scoreGood incomePlenty in reservesLooking to acquire properties 180k and below with 20-30% down but haven't been able to find lending.Any suggestions?

If that is true, you can but lenders who do this typically only do it with a rehabber with experience and a good track record.

@John Lee Look into Kinecta Credit Union who are based in Orange County and LA County.

What is everyone's favorite way to keep track of receipts for taxes/expenses?!