Our suburban Chicago community has so many members we've outgrown our meeting place (where we've been since BEFORE the crash), has weekly study groups to help people understand what they are learning and monthly all-day workshops where one of the instructors from our classes (I believe we are up to 20 instructors now, 49 classes totalling about 500 hours of on-line material available 24/7) comes out and teaches without selling anything.We have other communities around the country, as well.If that's "too good to be true", then good luck to you.One couple in our community just finished a 32-unit project (in four buildings) providing housing for homeless veterans: rents guaranteed by the VA.

Now, that is has cooled, and may be cool for a while, its tough to determine values going forward.

I also swing the hammer, and am buying at or below 50% of FMV. my 10year amm insures i will not get in trouble if time get tough. and my equity position will guaranty I can always sell.

Provide any references you think are helpful.....accountants, attorney's who specialize in real estate, local places to purchase materials, where to get discounts, etc. 

Yeah, I realize there is much less concern as long as materials are not being disturbed, but we would be doing renovations (see below).  

After doing our due diligence on the deal it looked like we would have 8k in fees and 16k in labor, materials etc.

What I mean by this is that materials and finish quality is much lower than you might do it anywhere else.

It would be a good material to start with.

hi @Andrew KilgoreLA is a tough market but there are always opportunities.

I have heard the LA market is tough for flipping so could end up inland or in another state if that is the only option.