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So you would select an area to invest in first, then build a team of people in that area?

Ideally you offer 2 or 3 yrs depending on your circumstances with an option to have a one time 6 or 12 month extension.

@Tyler Goulden I have been doing some extensive research into this strategy myself.

Go to local clue meetings to network and find people that become your friends or mentors.Learning about your niche and market selections are critical.  

If the renovation is extensive, you could run into some unexpected repairs like a broken sewer line, or mold that is found when the cabinets are ripped out.

@Laura Renner  I am not a commercial expert having only sold a few 5 to 6 million dollar buildings as a broker.. and I have personally never seen it.what I have seen is1. not a lot of help from listing agent as they want to double end it .. if they can2. proof up both cash and financing before they will even entertain a offer.3. you can walk around the property but until you have lifted your contingencies and the only one left is inspections.. you can have a quick run through which is generally outside inspections and basic plumbing in select units.. this is not full blown home style inspections.. can't bother the tenants that much.sounds like your buyer is experienced in C and D... if they are not they are going to lose there butts  LOL.. those are the toughest properties to make work in the US.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

What factors do you analyze in selecting where to buy?

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