With a little encouragement from juzamjedi, I am reprinting a recent post from my website:------------------------------------------------------------Foreclosures are going through the roof and seem to be continuing on towards the moon.

If they are wise they will then perform their own investigation into the property to verify that it fits their investment needs.

I did a lot of investigation for the three days I spent there and found that they are building a lot of new homes and infrastructure to the SW and continueing to the NW in Rio Rancho etc.

To many move outs will cause property values to decline, underinsured properties in potential areas of Disaster could cause financial loss for investors and one big issue is supply and demand.Supply and demand affects rehabbers and builders as material cost continue to rise as demand for materials increase.Real estate investing is all about the numbers and your risk and you make the determine!

I'd have to agree with everyone here...I'd have to look at the property, see the title documents and do some investigating before buying property on Ebay.

Here is my plan (Goals) I would like to rehab and resale enough houses to buy and pay for in cash a single family rental, and continue to repeat this process.

I would think that a property like this would be so far deteriorated that it would continue to go down in value constantly.

Yes anyone can do a deal with OPM and no $ out of his/her pocket, but if you plan on establishing a full-time landlord business like Mike does, you will have to have capital not only for acquisitions, but for maintenance, misc. capital expenses, etc.Now if your plan is to simply buy and hold one or two or even 5 properties and continue your 9-5, then perhaps your no money strategy could be used with partners, etc.

Arizona is my home and I will continue to invest in it - but am looking carefully at each opportunity now.Just be careful.

You should continue to do your homework and ask questions until you fully understand what you're getting yourself into.