Also, I feel buying in those types of areas is only worthwhile with properties that can be acquired at a deep discount with as little money as possible down to minimize risk.Good luck.

I would advise you to conduct your own due diligence before diving off into the deep end first however.  

At this point I believe I am still a few months of planning away from taking the dive.

You may want to consider reading J Scott's "The Book on Estimating Rehab Costs" before you dive into that project.

I have been buying, selling, renting and financing (pre Dodd-Frank) for years and this is way too far into the deep end for me.

. - Choose the good contractors: even though it wasn't his first deal, it was the first that required such an amount of rehab; therefore choosing a whole team of contractor and manage it on a daily basis was very challenging; The work took a very long time (almost a year), I believe we should have planned and organized it before diving in. - Some challenges with neighborhoods: We wanted to a verranda to add to the living space, but needed authorization of all the apartment's owners of the building. this was also very challenging, thus crucial in the value of the property.

If the lead turns out to be deep into pre-foreclosure then you can respectfully back out or refer them to someone who can help them. 

My farm can be broken into 25 lots at with a deep well and Fort Hall irrigation I imagine that if a person builds top quality homes you would stand to make millions, so just don’t look at Boise area for investing, not with what is happening in Bannock County. 

Good luck and dive right in.

Maybe I'm thinking too hard about this, but I'm very cautious person so it's hard for me to jump in the deep end and hope for the best.