From my limited reading I'm leaning towards a multi-family unit as my first property and I have my eye on a duplex here in my city listed for $23,000.

Believe it or not, you kind of need a thick skin to do this because you’re going to hear all kinds of stuff, some of it critical, some of it positive, and some of it a little nuts or pretty far from objective.

But since there is a limit to how much money the bank has access to....their rate will be higher...and usually a shorter term.

i also have heard that it limits you on what you can do with investing.example. you can't negotiate a person to a below market value deal because it may be considered stealing or unethical. etc.

That would probably be my limit of going to higher offer on 70k.

My limited experience with short sales showed me that banks can hold out for quite some time in order to get what they want!

Finance and leverage are the most important tools in this business and your limiting your options.For my personal investment strategy I pass on any home that requires flood insurance.

In my current market housing inventory is limited and the builders are going crazy so large renovations or flips are out for now.

I have cash to use, great credit, but minimal income, limiting me to under 80k properties mainly.

The owner bought the house in foreclosure in 2008 at $176,000The house was tax assessed $185,000The asking price on the house is $200,000.I would appreciate all and any feedback, criticism on analysis, important things I left out, major questions to ask when visiting the property on saturday.