Anywhere between next door and 1-2 hour drive away.

I've never seen that "abandoned" notice but I did go to one vacant short sale where personal mementos and clothes were thrown all over the place, and the back door was wide open.I think it is good news for you as a buyer, if you are interested.

For example: a 3 bed 2 bath brick home with 1,300sqft with a 2 car garage here in Memphis can be purchased for around $65k and will rent for around $950 while in LA that home might go for around $250k+ and only rent for around 1,400.

For instance, on rentals the cash flow has to be $200 (for SFDs) per door and the ROI (on the down payment) has to be 20% at a minimum.

Craftman style, decent neighborhood, needed significant work and great houses around it.Upon further inspection, it was partially worked on inside, some new sheetrock and paint, but it didnt look like anyone had been there in a bit.Knocked on the neighbor's door and after some chatting, got the owner's number.Long story short: meeting the owner this week for a formal tour, talk numbers, take my mentor and then maybe my first wholesale deal!

Many areas also require attached garages, etc. which starts pushing costs out of control. 

I couldn't walk in the front door and speak to someone if there are questions/issues.

New kitchen, S/S appliances, 1 car attached garage, no sunroom, only 1,500 sq ft.

It depends on state law and at what stage to foreclosure process is in.In Texas, if they have posted the notice on the door of pending foreclosure and Sheriff's auction, then the bank cannot deal with you at all.

I am trying to figure on costs of rehab as well as what to offer on home - ( I would reside in Home there after as owner occupant ) it needs the following from what i can see.. x2 for two floors/ apts- 43 replacement windows- 43 Square of Roof- a Rather Large Tree Limbs Hanging over roof cut- 4 Exterior Doors with storm doors- 6 Exterior doors with no storm doors- Raise Porch Rails to code ( another ft or so ) Porch in front is 50 ft & rear Porches 30 ft- Fix Front wooden stairs @ 5-6 ft wide- Fix Water entering basement thru Bull Ked ( add a drain or pour concrete )- Pour Concrete in Three car garage floor ( is dirt now )- Needs Heating & Hot water, and baseboard heat up two floors ( two new furnaces and FHW baseboard brought up two stories )- Electrical service upgrade from 60 amps old knob and tub to breakers and also bring up two floors adding new elec service in whole building adding plugs in all rooms plus washer and dryer hookups - 2 Panels, and move it to outside from basement..- New sub floors in Kitchens where needed , and then Linoleum floors in kitchen- Total Cleanout 3-4 Roll Off Dumpsters for left behind junk- Linoleum in pantry 4x8- 2 Bathrooms - Needs new linoleum and 1 needs Sub floor- Bathroom walls - rip off old plastic tile in one and make drywall and paint - Ba 2 Needs Rip off wall paper and skim and paint2 - Living room Kitchen & (2) Dining Room and 3 (6)Bed rooms Refinish Hardwood floors on ea floor so x22- Living rooms, kitchen and dining rooms, remove wall paper and skim coat, and paint all walls and ceilings2 - Living Rooms and windows remove all trim and replace with new and paint ( lead Paint )2 - Repair Bathroom Ceilings and Pantry Ceilings and then paint6 Bedrooms Fix Drywall, paint walls and ceilings2 Bathrooms install bathtub wall panels2 - Install Kitchen Cabinets , and countertops, and Sink in both pantrys2- Install Dishwashers including pipe, drains and elec in two pantries2 - Over stove - More cabinets in Kitchen @ 6 ft top and bottom with countertops2 Install washer and dryer hookups after bringing power to locationApprox 150-200 ft of Asbestos removal in basementalso what is the lead time to do all this..?