The main problem I see is that you're getting no equity spread for taking on the rehab, only risk.

I mainly wanted to hear other people's first investment stories so I could get some inspiration. :) This site and the forums have taught me a lot already but I have some more I need to learn!

I get redirected to the main "Recent Forums" page. 

I would be intrested in Dayton or ColumbusHi Allison,Thanks for your question.Our main focus is Toledo at the moment and we haven't yet fully expanded into the Dayton market.I think both Dayton and Columbus are great markets with higher growth potential than Toledo.Thanks and have a great day.

I signed up mainly to learn about real estate and its business, the first step in what I expect to be a career-long journey. 

Our next main meeting will be.

Learning and developing skills is my main concern. 

My main question was about the financing and it looks like I need to save some more before I get into this.

Main building is a 3 story + basement with 1400 sq ft on each floor.

thank you @Mardochee Pierre very much although i do plan to flip it for a profit i would like to live there a year or two and make it a vacation rental when I'm not there and really don't want an inland house although i do notice a majority of the waterfront homes are actually just on a canal and there is the whole hones beech long beech rockaways etc... acting as a wall in my opinion.....mainly could you perhaps recommend an experienced inspector that could assist me when i visit the open house... they do provide all sorts of inspections and property information but i just don't trust them after all the whole thing is organized by some 3rd party company making a profit off the 6% commission at the auction so obviously they could be less than truthful... also any information from the state which owns the homes at this point i really wouldn't trust because i know the state can say one thing and than a local town official could come around and say oh no no you need to teat that house down etc...