It's my biggest ($ wise) project so far.

A Realtor friend brought them to me (who brought all their clients to me I believe) so there was more incentive to get involved in making something happen.What I had were several issues. 1. the borrower had little money on hand but income. 2. they wanted to do the work, this couldn't be allowed as they were not in construction and their skills could not be shown. 3. had a buyer in line, but not as is, it had to be brought up to market. 4. the owner had limited equity, perhaps 15% based on the as is value.So, first was to make a future advance note, similar to a HELOC or construction loan as a second mortgage.Had to look at repairs and improvements needed and at what point each "phase" would be completed and increasing value.I had a contractor and got him involved.

Our biggest concern is usually prior evictions or criminal background.

I would have to say talk with a CPA on this for your specific circumstances.If you are purchasing all cash with no financing, IMO your biggest objective is to cover your butt since your the one with all the skin in the game therefore have everything to lose.

I started in sales 7 years ago it's been a real challenge I was an employee all my life, the biggest thing is mindset!!

I was thinking about contacting the HR of NCR which is a fortune 500 company about 10 minutes from my rental property.Perhaps in 10 years, I can say that my biggest investment mistake i made in 2006 was one of my most profitable investment.

You'll have a huge advantage as an owner-occupant with finance options, taxes and possibly first time buyer incentives.

I will say that my biggest success has been watching what the "big fish" are doing and than doing it better or more efficient.

Give them more incentive to want to sign up.Maybe leave out the house number and only give the street ?

The biggest hurdle would be getting the approval from the planning department.