I explained the concept to him and he basically told me that he doesn't really have experience in it because he doesn't think that is something that the Long Island market is good for.

Chris, the basics of any loan (and the attractiveness to the lender) come down to two main factors....cash flow (aka net profit, income, debt service) and asset coverage (aka net worth, ARV, secondary support, LTV).

Could find some foreclosure deals there, but boy, did investor competition heat up!

and then who do I sent it to say if it is a REO, or who do I talk to at the bank, I guess this maybe very basic, but I thought it would not hurt to ask.

Many times, the smoke smell lingers in the heat vents.

Currently I have one house that I live in and one house in another state that I rent out and basically break even on.

That $1550 seems right for water, but $2k seems low for heat.

My very basic plan is maybe 3-4 flips then a rental, 2-3 more then a rental, 1-2 more then a rental, moving to rental as I can.

Make sure you get a deposit from the buyer before going under contract because if you go off of the buyer's word and the buyer backs out of the deal, then you WILL lose your earnest money from HUD, I lost my earnest twice because I couldn't find a buyer.3) No it is not necessary to have the electricity/water/heat/etc on, it's the buyer responsibility to do their own due diligence.

I can get away with working 20 hours a week and I basically set my own schedule with total anonymity.