My name is Tresanne and I am a complete newb to real estate.

@Odie Ayagaof course - if there's enough equity to cover the sum of all debts, there's profit.the biggest challenge i find when i look at a foreclosing property is to "know" how many loans does it have, and so there may be an unseen debt from senior positions.of course i could run a title search but its not fun to spend a hundered bucks on every property only to find out 90% of them are underwater.

Hi Billy,Sounds like an ok deal to get your feet wet.As you listed out there are pros and cons to the nicer areas vs lower cost areas to invest...the biggest challenge others face in your shoes is actually pulling the trigger and getting the first deal on the books.

My name is Josh and I'm new to REI.

My name is Josh and I'm new to REI.

Hello everyone,My name is Darryl and I'm a big fan of small business, entrepreneurship, and business process.

My name is Matthew Gonzales and I am just beginning my investing career.

Hello Everyone,My name is Fernando Reyes.  

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Does anyone have any northern NJ investor friendly contractors that they can share the company names?