Here is a wholesaler asking lawyers what's cooking...http://www.avvo.com/legal-answers/does-real-estate...Here's the law, light reading to cure insomnia....http://files.consumerfinance.gov/f/201503_cfpb_reg...New settlement requirements will have a one to three day review requirement between each settlement, can't close back to back as we use to, build the holding costs in and ensure your seller knows what is going on. 

It is near a light rail, which is what's peaking our interest. 

I rip up the carpet, take off all the light switches, door knobs, prep for painting, prime all the trim/doors/ and anything not already white, and paint the entire unit (about 1,600 square feet each!).

I rip up the carpet, take off all the light switches, door knobs, prep for painting, prime all the trim/doors/ and anything not already white, and paint the entire unit (about 1,600 square feet each!).

Address: 17000 Locust Ave, Hazel Crest IllinoisTotal Purchase: $55,895 (Total amount on HUD-1)Total Rehab: $40,475 (inc'l village permits)Mortgage Balance: $39,267LoC Balance: $51,252Current Out-of-Pocket: ~$7,290Total Owed to Lender: $90,519Total Out-of-Pocket: ~$7,290To be completely honest I wasn't entirely sure what direction to take when first embarking on this project...

Northern lights were the most impressive in my book.

So it might be a good start for me.Can anyone shed light on purchasing REOs?

I usually do a light renovation to rent it, then upgrade countertops, fixtures & such when I sell it a year or two later.

Have you tried looking into capital type projects that will help reduce energy consumption (LED light fixtures for example)? 

Rest just needs cleaned up, even has upgraded light switches, lighting, fans, siding, etc.