Side note: I generally will not rent to someone if they don't have a checking account--it's a red flag issue.Do the easy work up front, and the rest of it is easy too.

We are only looking for ourselves- not doing an inspection for anyone else.Is it as easy as looking for "sawdust" and sticking a screwdriver in rotted wood or does anyone have a few other tips?

Once you own 10 to 20 properties free and clear then gaining more is easy.My advice, start slow, go easy till you find exact finished cost.

Electrical is easy... just stop short of wiring into the circuit box and there's no juice to electrocute yourself with... that said, you probably don't know all the compliance rules to pass inspection anyhow...Generally there's several outs... either through financing or inspection.

The other answer is there is no easy way you find them.

Its easy to get excited about potiental cash flow and look past the obvious.

It has not been an easy decision.

This was certainly an increase of income and not a negative situation.Good call, Rich...this is the point I was going to make...These days, I would highly recommend to anyone who wants to make some easy money that they should buy an REO that's in decent condition, live in it for two years, and then sell to cash out the equity, tax-free.

I can come up with 5% fairly easy whenever, but 15k-20k will take up to 6 months to gather.

I do think we've got another year of "easy money" at least, so precious metals should be fine.....for a little while.