Just keep in mind that if you are looking to pursue rent by the room, a lot of these deals will be ineligible for financing.

I am seeing a lot of activity in IN, OH, TN, FL, OR, TX, AZ, NV.

I totally see what you are saying about an agent spending their time with someone who is not immediately ready to buy and I will keep that in mind, thank you.

I don't mind having some of my own cash in this, but we're probably looking at 140-160k worth of rehab.I would hold this, not flip it. 

If he is of sound mind, you could offer to purchase it from him and clear the title.

Here are some of the key things to keep in mind when choosing an asset protection strategy for your rental properties:Your risk tolerance: If you are not very worried about being sued, you may not need the best level of protection.

And that's only one way...One thing to keep in mind is that the property could be within 30 min of your home or your work.

Flipping is an activity towards the higher end of the risk spectrum2) Yes you absolutely could lose money.

Also, it is possible some people may not be as active on BP or other forums because they are spending more time on lead gen, deal finding, deal analysis, underwriting, etc. instead of spending more time posting on forums.

Keep in mind that if you're not ready for the ride, it's best to avoid Citizen.