When you have the option to search by name, try the big national and local banks (i.e., Bank of America, Wells Fargo, Citi, etc.).

The number of foreclosures nationally continues to decline.

New Jersey market, as well an nationally, is seeing a shortage of available inventory.

I don't have any specific private money lenders that are local to the neighborhood, but there are a variety of national lenders that are specific to investors who would be willing to assist.

There are a few points I think we can all agree on that you need to weigh out in your decision.1)  There are national insurance programs that you can access through most of us. 

Don't do it.That is a very rough neighborhood (See Ultimate Guide to Grading Cleveland Neighborhoods) & I suspect you will be in for a culture shock you are not ready for.Lot's of national buyers hear that Cleveland is cheap.

(as mentioned above, competing with national builders is very difficult) What is the local economy like?

I would stay to the area around Southpoint, zip 27703, I think.For lenders, if you are a member of a local credit union, I would make an appointment with a loan officer to see what they can offer and also check with a regular bank mortgage and a national mortgage company.

Any flippers out there in southern California already implementing low flow faucets and shower heads?LA Times Link

The trade-off to lower mortgage payment will be mortgage insurance and 20% downpayment through conventional loan.Exit Strategies: Live and rent out single-family or duplex while making repairs over the years and either keep in in the portfolio as a rental property or sell.While I'm not looking to jump the gun on any decision at this point in time, I would like to know how strong of an idea the first option is compared to the second and if I have correctly examined the strengths and weakness of each investment opportunity.Thanks again BP Nation!