A number of investors visited my first house and I've heard from a wholesaler in the area that interest is picking up.

I am looking at picking up a property using hard money.

I also think you limited your potential of rental issues with your picking great tenants.

He had a couple for sale, one waiting for a delayed closing, at least two he was working on, and just picked up two more the same day.

Hoping to do it for when work is slow and pick up from there.

Also, the escrowed amount for repairs is nice, but on a cash deal, that goes away, so remember to negotiate a lower offer in a cash deal when repair escrows are offered.Even then, when your bid is accepted in an O/O deal, you (the buyer, more specifically) is responsible for all costs to dewinterize/rewinterize, and turn on utilities for inspections.

Was hoping to pick up a foreclosed property that could use a little work and hopefully save some $ (I am a bit of a handyman) as a primary residence and then hopefully look at another property a little while later (6-12 months) as an investment or turn the initial purchase into a rental at that same time frame.I called the REO/foreclosure departments of a couple different major banks and they said that ALL of these types of properties can only be purchased from the realtors.Is this true?

Check the common halls, basement, utilities.

If you're not comfortable with that, pick a local landmark, scene, etc., it just gives your profile a little more character and personality :)Post any questions you may have.

Be sure to utilize BP for all it has to offer.