If so, and assuming you don't want to spend a lot of time digging up a better deal, go for it.Now, all that said, the way you phrased your question(s) leads me to believe that you probably don't have a handle on one or more concepts:- How to analyze deals- How much you'll be losing to expenses (check out the 50% rule)- How sensitive returns are to changes in investment, income and expenses- How leverage will impact returns- The time value of money (a dollar today is worth more than a dollar tomorrow)I think if you spend a couple weeks reading and getting familiar with the concepts above, you'll be able to answer your own question...

Check out the link below.

We have investors who buy based on an address in Google, and they can get an idea of a property and what is around it by looking at the pictures.

Hi Geoff, Im new here myself, Welcome, Check out the pod cast, also plenty to read.

Don't be afraid to jump in and help answer questions or ask some of your own.Also - be sure to check out the post "House Flipping: The Best of BiggerPockets."

Also - be sure to check out House Flipping: The Best of BiggerPockets.

I would check out the rehab fourms here and lurk around a little bit.

Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

If it is as a future advance note, there will be fees much more than a credit card.A HELOC is by definition a secured loan using the RE as collateral.Might google some definitions of loans before you go to the bank so you'll know what you're asking for. :)

Not for the rookie.There are "rights of redemption" and "foreclosure rescue" laws from the Attorney General's Office.I just googled and found this, no idea how current and how accurate.http://homepreservationnetwork.com/foreclosure-laws-by-state/item/south-carolina-foreclosure-lawsSee a foreclosure lawyer that knows JUDGES's reactions to so called RE Investors attempts to cure notes and buy property from distressed homeowners.