You'll pay extra for the broker, but it will save having to knock on several bank doors.Is seller financing an option?

I can't really think of any hard knocks lessons, but it is a learning curve compared to long term rentals.

who would you pay 25K for a knock down in the crossroads aka west side?

A little nugget of advice for those who would be so inclined to knock down a chimney...

A few years back one of my cards that had a $10k limit turned it off because I hadn't used it in maybe 2-3 years, and that knocked my score down about 10 points.

When the appraiser came back dinging paint that needed to be touched up and glass that needed to be replaced, we spend 6 hours there and knocked everything out before the weather changed too much.

Run a couple scenarios, and if knocking down the house and rebuilding is the most profitable (with an acceptable level of risk), go for it.As for knocking it down yourself, if you have to ask, you probably shouldn't

I always tell contractors, it's common courtesy to knock on the door and explain why you are there.

You can start to Farm and door-knock and mail a choice neighborhood with a great sales price and turnover rateThe low-hanging fruit is ALWAYS going to be For Sale By Owners and Expireds. 

On the other hand, we have opportunities in our city to buy either vacant land or knock-downs in rapidly appreciating areas, put up new construction, and make an absolute killing.