Nevertheless, I admit that I initially found a lot of the business of REI to be full of business, until I dug a little deeper.

Good communities will pull credit and check criminal backgrounds and verify income in an effort to make sure they are getting a good tennant.

They escrow taxes and insurance and verify that insurance is current.

We've had an UNPRECEDENTED runup in housing prices and we haven't even gotten back to the historical prices in many areas, let alone the inevitable overshoot to the low side.As if the dot-com and housing bubbles weren't bad enough, the government has now created a money bubble by pumping literally TRILLIONS of dollars into the economy for ridiculous government initiatives (having very little to do with stimulus).

Initial asking price versus actual sales price and then your sales price.

So you will want someone to verify that the electric was properly split while you are doing those repairs.

Initially I think buying wholesale turnkey properties is my best bet, get some experience with those, and then get more creative from there.

Hey,I have one big question, is it better to use a line of credit or sell to initiate my career in investing?

If your only goal is to get a call at any cost, then at least tell a lie the buyer can't verify (or question) in 10 seconds.

Your initial cost basis in the property is the amount you paid for the non-performing note, plus your costs of foreclosure, plus your rehab costs.