It's in foreclosure and in need of cosmetic work. 

I look for the biggest, most expensive problems: roof, foundation, heating and cooling, electrical, and then work my way down the list to the cosmetic.

If you take that theory Carlos and add it with a property needing cosmetics; new paint, proper cleaning, staging, marketing, well now your taking a page out of my play-book. 

@Bjorn Ahlblad Actually that's a great analogy since the more experienced surgeons actually take the inexperienced ones and teach them hands on how to perform surgeries.

If the property needs some light cosmetic work and you are willing to fund the rehab out of pocket and it's liveable, you might be able to get a conventional loan/ DSCR loan on it if it qualifies. 

For your first investment, it's advisable to focus on properties that require minimal repairs or only superficial cosmetic upgrades.It's great that you're starting to network as well. 

We put in all new floors, new paint, painted cabinets, fixed some more cosmetic things.

No major cosmetic damage, but flooring throughout the home needs to be redone.

I'm a fan of places that need some cosmetic work so you can make updates while you are living there and over time to build equity.

I'd like something that is in decent shape but needs some light cosmetic work so I can add some value.