The bigger issue will be increased insurance costs that will make investing in rentals far less financially attractive. 

I decided not to go through this route since I had the cash available for a bigger downpayment and wanted to treat it as an investment rather than my personal property(would have to live there). 

I'd like to retire or maybe semi-retire in about 10 - 15 years.I've been going through the BiggerPockets webinars, and hitting every online resource I could find for the last 2 months.I've settled on trying to purchase a Multi-Family 5+ building on Chicago's SouthSide.

Yea this site is a great resource and like you say, the Podcasts are also great for continued motivation.

Hello, EveryoneMy name is Justin I am from Savannah, GA, and I new to the bigger pockets forums.

I found BP, been devouring the amazing podcasts and resources, went to a local meet up and am beyond inspired and motivated to take action.

For the most part that is true however, after reading a book called "The Deallionaire" by investor John Lee from Missouri (He was a guest on the Jennifer Hammond show), He talks about selling properties that he has bought  for less than $1000 using both conventional and unconventional means such as advertising a property via craigslist, social media marketing or selling through realtors and word of mouth.I'm mainly looking to venture into North Carolina, South Carolina, Georgia, Texas and possible New Jersey for this.I have heard both John Lee and Ankit Duggal (A guest on Bigger Pockets show) mention buying into tax deed/tax liens AFTER the main auctions by simply requesting a list of properties that were still unsold. 

I had an owner with $300k of equity on a $450k house, tell me he got behind and lost his house to me in foreclosure because his girlfriend is super hot but really needed bigger boobs, and not making his payment was the only idea he could come up with.

There are a ton of resources so dig in and start learning by reading the forums and blogs.

Second Home is worth 300,000He wants 250,000I intend to live in same home and rent out new home.Its 5:00 AM now and I knew i had to reach out to the Bigger Pockets fam.Thank you!