I understanding starting locally, paying your land lord dues and making your bones in areas close to home from a logistics point of view... but after you've done a few, is it wise to continue in a less efficient area or expand your horizons to better investment arenas?

Some keep big cash reserves, others are more modest, others still keep access to credit with a little cash.

Don's list is quite similar to his.The only thing I have to expand on is before you start demo/trash-out, complete any critical safety issues that may exist before you break out the crowbars.

That of course is an option for you to use if you buy ...Tenants are difficult to schedule showings with, and they are uncooperative at best, that's why smaller buildings will usually be empty when the banks sell.Try offering cash or gift cards to gain access to see the inside, and to get info about the existing lease terms.

took 8 of duct out and expanded it to 10 of duct. -120 dollars.

That makes it clearer for me along with the expanded answer.If you don't mind my asking... do you assign your LO to the Buyer or do you assign the Buyers LO back to the Seller (the technique that Joe McCall uses)?

I'm told this tenant has complained about cutting the grass, giving access to the apartment and painters working outside - he's been a jerk.Neither of the tenants pay on time, though the previous landlord didn't seem to care.

It also has rear ally access.

What I have discovered is that my clients have thousand of REOs nationally and through my relationships at the Asset Manager level I have access or the ability to look at them all.

First Chuck, admittedly it's been a while, but last I spoke to UDirect they will not set up a self-directed IRA with checkbook access (really an IRA LLC) though they could probably point you to someone who will.