I buy for location, and there are a few things that usually make me walk away - late last year I looked at something I was considering buying but there appeared to be a massive sinkhole developing at the driveway that was taking the slab with it - and usually those things are serious foundation problems, unsolvable/difficult to solve water issues, failing roof support system, no siding or severely damaged siding.

I just helped a couple get a fixer upper in Hiawatha and a bank owned property on the NE side in the last few weeks. 

So, over the last 2 years here is what played out – all due to BP:Year 1Wholesaled a property which I had never done (I know – mixed reviews on this approach)Flipped 3 homes with private lenders found on BPPurchased 12 rental units with a BP partnerYear 2Flipped 3 homes – 2 with a lender from BPSpearheaded the purchase and rehab of a 22 unit condo conversion project of a former school with BP members and othersQUIT MY JOB!!!

@Mark Alex You can find a lot of information about tax sales/trustee auctions on the County Website: Sacramento County public auction tax sales are held the last Monday in February each year, with a follow-up sale in May or June.

I knew it had potential and for the last 3 months, we've renovated it from the bottom to the top.

As somebody who lived in SW FL the last 2 years, I can say that there are definitely areas where rentals make sense and plenty where they do not.  

I am in the process of looking at crowdfunding for the development side and they want to come in last and we are having to partner with a group that has a long time history in hotels and development so they can be comfortable.If this is your first it may be tough, not impossible but tough.  

I was pretty close on my last one.

I went full time investing this last year as well. 

Even having enough money to fund the entire project myself or pay back investors out of pocket if the project lasted longer than projected wasn't enough to convince them.