With one deal under my belt I am by no means and expert, but here is my "word to the wise" to everyone else just getting started.1) Know what you're getting yourself into, active RE investing with no cash or credit is not nearly as easy as many gurus may lead you to believe.2) If you're like me and want to get into wholesaling before progressing into rehabbing, sure it's good to take that time to learn to evaluate repairs and ARVs ect, but depending on your situation, it may behoove of you to invest some time in early on planning on how you're going to secure funding.

Once you have a good feel for the area how do you go about pinning down the areas that you think could potentially generate the most leads or have the best deals?

@Rick HarmonYour method of determination for pursing a lead is right on!

By charging them a total of a $500 pet deposit may bring about feelings of animosity and may lead to a disregard for the upkeep of your property.

I'm guessing the first two have hit for now and I have received 3 calls so far.  2 of them seem to be quality leads so far and one was a "take me off your list" call.

Whereas, my friend Sam may be a full time investor and be willing to take anything with an ROI over 12%.The bottom line is that I never throw out a lead based solely on how closely it aligns to the mythical 70% Rule.  

So far, so good.I'll document responses, leads and deals in this thread.

if you're renting you're going to have to deal with the lead paint issue (build before 78);  some people with children won't live around power stations if there are lines overhead - or is it just a station?  

., a "lead") so your cost for a lead out there is easily $300 (cost per conversion).  

Obviously it couldn't be easy for my first possible lead and i have a lot of questions as this is like nothing i have come across in the forums.