Thank you both for your feedback.

Feel free to ask questions for more details but I'll try to briefly lay it out.My 3 year goal it to have $5000/ mo positive flow so my husband no longer has to work his 'day job'.

Thanks for the feedback. 

You may want to consider having you added in a junior lien position with a set dollar amount that you both can agree on.  

HiIf I buy a foreclosure from the second position for say $200,000, subject to first mortgage of lets say $300,000, and then the first position forecloses - my understanding is it forecloses the original owner, and not me.At this point,  can I pay the lender their $300,000 to prevent foreclosure?

Pros: low maintenance, low price tag, positive cashflowCons: rents capped at 700/mn, not going to bring in rock star tenants, not the most desirable areaThanks for the help!

I've previously lived in the DFW area of Texas and southwest Missouri so I'm quite familiar with those areas.I'd love to chat with any northern Colorado members that have experience investing in those out-of-state markets.Thanks for any feedback!

I've previously lived in the DFW area of Texas and southwest Missouri so I'm quite familiar with those areas.I'd love to chat with any northern Colorado members that have experience investing in those out-of-state markets.Thanks for any feedback!

I've gotten so much positive feedback from the summit - thank you for joining us - and thank you for the glowing review.

Luckily, I did not opt for the cheap route and appear to have pretty solid coverage (I did go with the higher deductible at $3k).I would love to get some feedback or input from anyone that has dealt with this before.