I've heard in order to contract an REO you have to be pre-qualified?

The ideal candidate is confident, creative, has strong follow-through, excellent verbal and written communication skills, and is a real people person with a genuine desire to help people.

Movements of the Shanghai stock index and delinquencies in sub prime mortgages have clearly left their mark on mortgage rates.Measures such as more stringent regulations for qualifying borrowers to mortgage loans are bound to affect the housing sector in an adverse manner.

I would recommend consulting with a qualified accountant on these matters.

Not everyone will qualify that is just a fact so we can't and don't help everybody that gets referred.

But I am trying to post ads whereever I can now and hopefully i can get a qualified tenant before closing.

If you cover yourself, choose a qualified tenant, and be fair all around, everything should work out ok.

Some HML's charge usury and don't know that they can be legally liable for it.All of this is of course subject to the advice of a qualified attorney, which is where I learned of it.

what rehab skills do you have that you won't have to pay someone else for?

The first issue that jumped out at me is that you have to have the intent to hold for investment in order to qualify for 1031 exchange treatment.