I mostly purchase REO properties to flip, and a large majority of them come from contacts I have developed so I get them before the competition knows about them, that is my game.

I do a credit check and only look for outstanding major utility bills, no eviction filings within the last 48 months, 10 year national criminal background check, no serious misdemeanors or felonies, 100 year for sex offenses.

Mic,That is a major IRS violation.

With the majority of buyers, I think white shows better - light and clean.

(Bear in mind, this is City of Atlanta... and they hate builders and renovators with a personal passion)For that price, I also expect the architect to take my license and go pull the permit himself, walking the plans through the building department.

Listed below is a summary of my financial and credit profile: Income/Savings:94K annual income (58K from primary employer + 36K combined from part-time work)20K in savings and have an additional 20K towards a downpaymentCredit scores: TransUnion 649, Experian 665, and Equifax 637 as of 12/10/11; credit simulator claims that my scores should jump ~20 points if I pay off my credit card balancesDebt:About 3K in credit card debt; all currentAbout 380K in student loan debt (majority from medical school); but all student loans are current and in deferment.

I think I'll go with the majority on this and list them both now.

Now I'm working on owning the majority of rental property in the town I've established myself in.Good luck and let me know if you have any questions!

I can give you a pointer I have just learned....I hope some one kicks me in the south end if I tackel another major rehab DYI.

This could have a major impact on all of us, anyone talking about it?