You can borrow 50% of the balance or $50,000 whichever is less.

However, since it's a smaller city, would I have less competition for real estate or would it balance out since there's less real estate total as well?

I recently came across a property with over $110,000 in unpaid balance, however the foreclosure estimates was about 60,000 according to zillow.com.

I do agree Karen, this could be the end of my investing career without the proper support and backing.

If someone fails to screen properly, tenant had prior conviction for selling drugs perhaps, then slap him or her with a fine.

It was a short sale with code enforcement issues with the city that took a lot of hours to resolve over the last few months and a lot of negotiations with the first and second lien holder to get it down to the current price (I guess a contract at 4.7% of the unpaid balance isn't the easiest thing to get them to swallow) so it wasn't just an easy just an easy purchase.

If the lead is not properly sealed with new paint, you could be liable.

I don't think that is headed down a proper point to this discussion as it really deals with diversified versus not diversified risks.

Windows usually go in before the siding that way they can be flashed and sealed properly.

Advice: Don't sign deals that you haven't properly considered.