I kept jumping in and out of the pool and learned a lot of "Creative REI" methods although I was never able to gather the self confidence to put theory into practice.I served in the US Army for 14 years combined active and reserve including a tour in Iraq in 06-07 at which time my wife and I purchased our first home and instead of going with the REO that needed work we went with a more middle ground outdated but move in ready home at double + the price.

Hi BP members,I'm a newbie in BP and also new to REI and looking for some advise from the pros here in BP.Long story short, I came across this property (3bed 2bath 2300sqft house with pool on a 7k sqft lot) for sale in my local market that the owner owns free & clear.

Two partner could pool their available cash and buy a property WITH NO LOAN and split the profits 50/50 and no preferred coupon on any loan.  

It is in desperate need of landscaping and has a pool that has been partially filled in in the back yard. 

They need 5% vs 3.5% and need a 660...In the old days we could pick our appraisers.....now it just goes into a pool like VA has always been....RMLO's please give your input....

I don't have any experience in real estate investing, but I'm jumping the pool anyway.

There are no swimming pool, no kids playground, nothing.

I am in the process of buying a  HUD home, and the title company informed me that the house I am buying never had the Final inspection closed on the swimming pool and it has been expired for 20 years.  

Also, keep in mind that the buyer pool for homes like this is much smaller than it is for your typical starter home in a suburban neighborhood.

Houses are small, parking sucks, and the bar scene will spillover into you backyard.