I did recently read a study that stated that short sales in some parts of the country (Phoenix was one of the top markets for discounts) were as high as 43%, however, I can assure you that the figures did not take into account the rehab costs.

PS: I'd love to know your Experience in RE Study too!

I've asked an HOA here in Southern Cal for an electronic copy of their reserve study, since we are thinking about putting an offer in on a condo (the exterior railings of the complex have extensive wood rot and termite damage).

I suggest taking some time and study BP.

None of what I have stated in intended to insult or attack anyone.I am new to RE Investing but not uneducated I have been studying the RE markets and Investing in general for several years now.

Study the past and current market and go with that.

You will be much better off to spend you time studying and learning this business and saving your cash.

I studied the market for seven years and got a sense of what areas I'd buy in and where to avoid, and carefully considered the long-range view of the rental market as I intend to rent it out.First, do not approach this lightly.

I’ve been reading all the BiggerPockets recommended books, listening to the podcasts, and I’m even studying to get my California real estate license so that I can get my foot in the door and get a feel of the market out here in San Jose.

Just to share a little about myself, I am a student at Illinois State University in Bloomington, IL studying accounting.