However, I'm quickly finding it's a bit difficult to get to that stage!

Some of these appointed officials can be notoriously difficult to deal with.

The Cleveland area was hit hard with this foreclosure fiasco, so it will probably be difficult to find many cash flowing areas.

Well just doing some quick mathif all units are the same 7 x $750 = 5250 x 12 = 63000/yrassuming 50% for expensesthats about 31500 NOI and depending on the general cap rates in your area there you can get a general idea of the value.For example, in my area 8% is a good rate so 31500 NOI with an 8 cap comes out to a value of about 393k for me. and of course 10% down is about 40k then.For financing if you are going conventional you would have to see what rates you can get and then correlate that with the NOI.Good luck.

In my area, a 2/1 has a guaranteed cap of around $750/month.

I am concerned that the new regulator that Bush appointed is going to overreact to the market and make it too difficult for the average person to acquire a mortgage.

It would be fairly difficult to assign a short sale.Upon negotiating and submitting your offer the bank will want to be presented with a contract.

The ensuing confusion surrounding a piece of real estate included in his will showed me how great a need there is for professionals i nthis business to help people through difficult times.My primary focus is wholesaling, but really I look to meet the needs of my clients first.

It is difficult to flip at present as the market is depressed (at least for another 2 years!)

However, if you live out of state it will be difficult to work with local banks.