For alot of budding investors, the education stage is as far as they'll ever get.I think you'll find the folks here offering up their wisdom are creating far less "competitors" than you seem to think.  

All other insurance providers that I know of need to write a several different policies with large deposit to duplicate the coverage. you have to tell them once you go from one stage to another. if you finished rehabbing and property is on the market you need to call them and disclose that fact. only then they will update your policy with the proper coverage and premium. costwise :rehabbed > vacant > rented(occupied). 

Even if you can just offer to clean units after a tenant moves out or help a realtor stage properties.

Here is a basic overview:Pre-Foreclosure Stage: A borrower is in default when a payment is 30 days late.

I have the same hobby of having kids, I did finally get out of the Lego stage and got my son to save up some coin and buy his first investment house at 13.

Ie: what stage are they in?  

Now, since this would be my first rehab, I'm not comfortable with foregoing an inspection at this stage (nor will my private lender lend w/out one).  

Unfortunately, I don't have any good advice or insight here...but if you buy it and resell it, I still have the staging and listing pictures from the first time around...  :-)

I am in the very beginning stages of looking at investing in performing firsts so I know very little about it.  

Like I said i' still in the R&D stages of RE.. but this was very insightful.Thanks everyone!!