Improving your math skills if they are not great is another key skill.Part-time work: Property management, construction, sales in a hardware store, almost any sales job where you are dealing with the public on a regular basis, working as a support person for a real estate agent who is very active (marketing, web support, etc), admin work for a mortgage broker.

As you buy more then i would consider into using an llc for each property but the cost of running an llc yearly per property can get expesive but if the income can support it then why not.

Will 400 dollars a week support that?

If they have a lot to sell and are facing pressure (economic or regulatory) then they will also look to dispose of property in bulk.

Like i said before he is my stepson's father and he owes my wife child support and he is the type of guy to charge me the most he could then send the money in to child support then i would in turn get my money right back from him.

This has the added advantage of providing supporting documentation of your administration of the Fair Housing laws.

While that statement may be true, it plays a very small role in the real world of buying REO as most properties will never come close to causing the bank a legal/regulatory problem.

It could be support for someone's situation.

If they must, they will turn it over to an agency like Fanny Mae or Freddy Mac (government supported) agencies that serve as a balance between the RE market and the government control of the properties.

Thanks all for the support.