I work as a software engineer and getting to work with my hands is a nice difference.

So buying a foreclosure, doing the rehab and then finding a tenant and a PM seems a wee bit off our hands cause we're so far away from our next-to-be investments.I saw Dallas as a good spot but it seems that ROI is not as good as in Tampa.I've heard a lot about Kansas City : low prices with the approx. same ROI.Tucson is hit hard and foreclosure inventory stays high, but it may seem a good spot too.We dont want to invest in Miami as we think the town is pretty much overrated and wont get back to the insane level of median price.

Jason Lee You can invest out of state successfully but it will take a concerted hands on effort .

Less expensive than an attorney, but requires less hands on than doing it your self.

Steve Babiak I am not sure what you meant by your comment, but I ask that if you do respond to others questions that it is in a manner that is adding some knowledge to the topic at hand.

We prepare the docs & receipts, keep great records, and hand everything off to a CPA who lives, eats & breathes tax returns.

That is the only way to verify any income they have from the business, unless they have a CPA who can supply a certification of income (but the CPA probably did the tax returns anyway).Application isn't processed until it is "complete" - all needed paperwork in hand, and SIGNATURES on permission and authorization forms.

If, on the other hand, you have sufficient cash flow that the loss of a particular property's rental income would be unfortunate but not devastating, maybe you don't pay for the coverage.

I'm going to try that tonight, on this current prospect.I haven't been printing out stacks of contracts when I show the house, I just handed out a slip of paper with the link to my website, where they could download the file, fill it out, and email it back to me.

I don’t have a lot of cash on hand, but I have good credit, and I’m working on the cash part.I don’t think any of this is or will be easy, I have a family, work full time, while maintaining a 3.75 GPA in college majoring in finance, so I know how to work hard.