Hi Guys,   I came across a property in a active adult community where 80% units are for 55+ and the 20% are with no age restrictions. me and my wife are in early 30's.

Of course our perspectives will change as we age and that’s ok!

Now at my early age of 38 getting ready to run into my plan A.  

You already have a huge leg up on the rest of the world (determination to make it in real estate at such a young age)- just don't give up!  

Its also anti equity skimming laws.. if you buy a preforeclosure and sell it with in a prescribed amount of time can't recall exactly but its about 24 months.. your required to split what ever profit you made with the person you bought it from .. etc etc.I got out of that form of investing when these Senate bills were adopted as law.To my knowledge it is not federal its state specfic

The age of the house is important, because even if its a well-maintained house, its going to have an older style floorplan.  

One of the main reasons i'm looking to get into real estate investing is because you are providing your community with distressing properties and adding new occupants and continue raising value of properties in the area.One situation that really caught my attention was a investment property that happened right across the street from my home.an investor or someone bought the property for like 140k and just resold in less than year for 450k.it needed some work but nothing out of this world.roof,kitchen,flooring,A/C,paint,clean up pool.How can an individual at the age of 24 get started with no credit or money down?

Im sort of new to this myself and I'm about the same age...

In case of residential real estate, it is 27.5 years.While this is not intuitive, the 27.5 years starts at your purchase - has nothing to do with the age of the property, and is based on the depreciating portion of the purchase price, which excludes the land.

Banks don't treat them so well as they start to age.