But make sure you do your "due diligence" on the property FIRST.Also, educate yourself by capitalizing on the podcasts, blogs, forums, and articles here on BiggerPockets.Finally, I would encourage you to join your local real estate investment club and network with other investors and real estate professionals in your area.

There are many experienced investors looking for properties so you may have to act quick.

If you don't have that feature in QuickBooks Online and I don't recommend Quick"Books online for landlords because it lacks many functions,  then back it out this way.Since the bank sent back the check, this means you no longer have that money you deposited into the bank. 

You are right, families who rent from SFR are not quite quick to move out.

I bought it for a quick flip, but the people living in it did not own it and did not know that it was being foreclosed on.

Thanks for all the great feedback, and encouragement!!!

What items do you have done before making an offer on a property like this, and how would the finding results either encourage or discourage your purchase or offer amount?

Everyone, thank you for your responses and encouragement!

This could cost between $1,000 and $15,000 and it will not happen quickly.

@Michael Muro Typically there are two types of coaches/mentors out there.1) will charge $5k - $50k for their services and will help show you the ropes, maybe provide you with some "proprietary" spreadsheets or software, and give you encouragement along the way.