The neighborhood will probably support about $115-$120K once I do some landscaping, paint and etc.

Tuesday - Spend day networking with realtors, bankers, credit unions, mortgage companies and all others you come into contact with (spend about 2 to 3 hours)Wednesday - Go through newspaper for homes for rent, FSBO, Homes For Sale, Legal paper listings and searching neighborhoods and drive by.

Reprinted with permissionWhen choosing an area where to buy a rental property, there are several things to consider including, distance from your home, supply of potential tenants, average rents you can collect and the ability of tenants in that area to pay you.I would choose property where people want to live, close to shops, parks and decent schools, and in a well-kept neighborhood.

But when questioned about the basics; neighborhood comps, ARV, FMV, key points of Deed Of Trust, difference between a Special and General Warranty Deed, etc, etc, they didn't have a clue.

I was told it was good, so I read it, but found that touching my forehead then repeating the high points and posting on my mirror to be a bit "hokey" and the typical "guru" style.

See above.My places were always the best looking in the neighborhood.

However, what is not mentioned that not ALL types of investing work anywhere.For example, someone who wants to invest ‘SUBJECT TO’, by taking over payments from owners who have zero to little equity in their homes, must realize that they will have a much harder time finding these ‘upside down’ owners in older neighborhoods, where most residents have their loan balances paid off or just about paid off.Rehabbing would probably be a better strategy to pursue in OLDER, more established neighborhoods.However, here is another problem.

How ethical is it to know there's a perfect house in the neighborhood a client want/needs and avoid that block just because it's a FSBO and won't pay 6%?

I can give 20 minutes of ANY Day 2 returning phone calls4"damage control" or whatever...then go back 2 vacationing w/o the worry of "what's happening w/blah,blah,blah, & have a BETTER time Relaxing...that's just me.Hoping I planted a seed that will help the neighborhood & rehabbers(&U of course) prosper in Your future;& in finality(absolutely SHAMELESS Plug here) When(not if) the borrower calls up so excited they can barely speak that just found 750 acres for $25M that they can develop into 1 acre lots for $75k per lot, they just don't have the 20% down & 3-5 million 4 infrastructure & marketing....call me, 24/7/365.

Jeffrey, have you looked into the HUD Neighborhood Stabilization Program as Milwaukee is spending the money?