Most have to do with continual communication, transparency, pre-approval thresholds, and accountability standards.One note, as a long distance investor, you will almost certainly not be able to get local bank financing.

Through networking in my area, I keep hearing "FHA wont approve" and continuously see "cash or conventional financing only" on the listing.

So I told my agent I'll pass on this property and continue to look for the next deal.

I actually closed on two residential lots yesterday, so yes, people do continue to buy lots depending on the area and the price.

Over the next two years I plan on using existing cash flows from my current portfolio to 1) continue the aggressive debt paydown on these two balloons and 2) purchase an additional 6 SFH or fewer multi-families totaling about $150,000 in total acquisition costs.The options I see are:1) current situation- continue paying off the two 6.625% mortgages over the next 28 months.

I just felt there were too many investors chasing the available inventory and causing the prices to be driven up to where there wasn't enough profit in my mind to continue pursuing them.

I continue to save, look for further deals and even jumped into having private lenders to fund future deals.However, I am having trouble determining my exit strategy and a situation popped up into my head.

I know the Texas market well. moved to Arizona and have had no trouble continuing to invest in Texas (I fly in every two months for about 5 days).

Then there is a tenant down in a makeshift illegal basement unit (4th unit) that is paying on time, but I cannot continue letting him live down there if I am going to get a rental license from the city.I am meeting with the non-section 8 tenant who is not paying their rent, and the illegal basement dweller today, and was looking for tips on how to gently explain they need to go - and soon.

If that continues, then the REO inventory will also begin to decline as well.