REO and Preforeclosures to purchase and rehab, sell or refinance depending on Market at time.

I bet they would pay up then....

I bet your personal domain is starting to get more hits due to Biggerpockets.

Do we have to wait & save the monthly cashflow from rental and/or get equity in this house to possible re-finance & putt out escrow for capital for downpayment/rehab on next one?

Conflict of interest.If the process is not clean then a title company will object when it comes to a future sale or refinance.

Oil was climbing steadily, but refined products like Gas haven’t.

My wife and I are looking in to buying our first home (we currently live with her father) and have heard that a forclosure would be our best bet for a good deal.

I'd be willing to bet that almost any county in CA has 100s of "deals" like this sitting around for the asking.

.- Joe could then re-finance the property under his own steam once he has built up his credit.

Instead of rehabbing a property and putting it on the MLS and hoping someone will buy it, I rehab it, refinance it(pulling some cash out and my investment) and then look for a lease option tenant or a regular renter.