I took a week and wrote out a detailed business plan based on the knowledge I gained from the NRU classes and my past experiences.

But, here's some advice for what to do to help you gain knowledge.Drive around the neighborhoods that you think YOU would like to live.

I'd suggest you read through the archives and gain enough basic knowledge as to be able to ask a meaningful question.

As I gain knowledge, I'm sure that percentage will climb.I look forward to interacting with you and others on this site.

My primary goals are to find a way to start investing in multi-family residential properties, and eventually gaining enough savvy and sophistication for commercial real estate deals.Some things I've been considering include, forming an LLC, as I do have other people who want to invest along with me.

Almost seems to good to be true in this market to invest in a REO portfolio, get most of my money back in 2 yrs, get the tax benefits during the holding period and still get any profits from the gains in 5-7 years.Am I allowed to post the website here?

Like they say nothing ventured nothing gained.

Wholesaling or flipping income would be taxed at earned income rates where as cash flow from rentals are taxed at passive income rates and properties sold after 365 dyas are taxed at long-term cap gains rates.

Thanks PNW, Mr Castillo.I guess I was trying to make the idea too general :oops: .More specifically, when I search the Wayne County Tax website using property ID numbers gained from Zillow, I sometimes come across properties whose status is "forfeited", and others whose status is "delinquent".

The interest is tax deductible but also you can depreciate the property to gain even further tax advantages.