I bought Jerome Kersey's mansion on the Williamette river in Oregon... he had gotten tied in with a financial consultant that lost him a lot of money..

This would give me an advantage because I could break the 70% rule (this deal comes in at 82%), allowing me to buy properties that other investors wouldn't touch because they need to account for financing costs.My initial thought was that this is a bad idea because it ties up a lot of cash and would limit my exit strategies to just one: fix and flip, but I think that's not true, because I could always finance 80% of the appraised value and turn it into a cash flowing property by renting or lease option.

However, if you are looking to blend cash flow and appreciation, then the Dundalk area (and especially the Elton area) may not be the best place to tied up your capital.  

I’m James Goodlett.Brand new to the REI game.Only real experience is the purchase of my home that has since been converted to a rental property.I’m trying my hand at investing as a potential follow on career path.Once upon a time I grew up in KS, but when stateside I’ve lived primarily in TN and AL for the last twenty years.My goals in REI are to simply offset my pending retirement check without being tied to anyone’s whim but mine.I fully understand that work is involved in being successful in this endeavor.BiggerPockets was a recommended source for information and networking. 

We have cash, lucky us, great credit scores, but don't want to tie it up so may need look for investors. 

I don't want to start paying for inspections and appraisals, or even just getting earnest money tied up, if I don't have to, and since we're using conventional financing, I don't want this to become an issue with the bank weeks down the road.

I don't want to 'make' someone do something they don't really want to do.Under my Assignment agreements, it does have clear language as to stepping into by shoes, as the buyer. 

But if its going to be a nightmare that ties up my money and time ,  I dont even want to bother.  

I was in your same shoes, and I decided to get my license while I learned the investing game along the way.  

He tells me that he didn't know his name was still tied to the home in anyway as he walked away from the home 7 years ago...