You will have to start though with getting your business/rental license and all that and get it licensed as a rental before the eviction, which can be a pain in the but if the old owner doesnt provide access to the propertyI personally would not purchase an REO in DC if the owner has not vacated.  

The Mortgage Forgiveness Debt Relief Act might be extended through 2017.Even if it is not, the borrower probably qualifies for the "insolvent before and after" rule.  

Jennifer - all great questions and I feel your pain in being "a little lost with everything".  

Recently I had to coordinate an entire kitchen repair due to a broken pipe, That was a pain, but I was still able to do it remotely. 

Unfortunately, when a city grows it has growing pains, in this case some very classic homes don't fit in the cities blue print. 

Been there a couple of times, I feel your pain.

Numbers are sweet, but you will have growing pains.

Going north can be a bit of a pain to get to I-65 and the airport is a bit small but Southwest is flying out of there now.  

The rules on this stuff is pretty clear, but my knowledge of it is murky as I've generally not taken advantage of this- too much of a pain in the a$$.

I had some family that had rentals when I was young and I thought it was such a pain for them.