Please remember that people, including investors, often make decisions or fail to make decisions based on fear and the unknown.  

I don't mean to go against the grain of those who are selling that idea - all I can say is that it did not work for me.So.......... back to taking seminars, buying cassette tapes and books - I wanted to learn everything I could about investing in real estate ---- so--I had to get money, working capital, and I needed to go on the cheap - A friend told me about cheap properties you could buy in Baltimore - houses for only $2-3,000 and many of them could be found at public auctions.After borrowing some money and getting some credit cards and a new job - one in sales - I was ready - ready to invest in cheap- junk properties in the City.And wouldn't you know it - I got lucky at my first auction and purchased a cheap house that was boarded up - Because of all those expensive seminars I enrolled in I WAS READY - prepared with my pry-bar, flash light, level, marble and probe - I decided to go to this building that was being auctioned the next day - I sort of removed some plywood and crawled through a window to take a look -Boy was I surprised - this place looked great - I later found out that the estate boarded it to keep squatters out.The next day - I was ready with my deposit and waiting for the auctioneer to start his melodious hypnotic chant - 5 bidders appeared but did not bid because they could not get it - I was the only bidder and got the house real cheap.Today as an auctioneer, investor and developer of commercial properties - if someone would ask my opinion on how to get started I would suggest ---Continue to study but learn how to cut through the BSGet a credit line Learn 20 creative financing techniques - no money down systems (that is none of your own money)Hang with a few successful investors and pick - pick - pick their brain*** Look at 50 houses in the area you intend to invest (not expensive, blue collar, mixed rental and home owner neighborhoods)When you are finished looking at 50 properties - you will be armed with knowledge that most agents and other investors don't have - knowledge of values -Keep a journal, put listings in it, write down everything the agent or owner says, keep a record of the cost per square foot - this will help determine values -Have agents send you expired listings - go knock on the door or send a letter to ask if they are still accepting offers on the property - Remember an expired listed is a property that failed to sell - the seller should still be motivated to sell. 

A short sale has a certain prices required, including it being listed with an agent.  

Sure you could list every item on an inspection report "chip on light covers", "dirt buildup in basement corner" and request them all fixed to end it, however you can't just say "I changed my mind".

Similar to Zillow and their zestimate, but I'd like to be able to choose which properties to include.

If you go pro on BP there are calculators to help you analyze deals including a rental property calculator.

Maybe find out the general trend of where the tenants work to see if your able to fill vacancies from other cities, including Spartanburg.

The investment, including all income and expenses, will go to and from your IRA/401k, not you personally.

Also, is there anything I need to make sure I ask my attorney to include in the note or the mortgage that any if you would recommend?

Hi Jimmy-I am also a newer investor from overseas, and I have been looking at various markets, including the Indianapolis market.