Their credit (unless it can attach liens to the property) is not a major concern to me.For example the wife & I go to our local tax or property auctions & sit there with the bidders (after we have est a good price for a home based on its condition etc).

In fact, go to the local planning department and ask them about it.

Flood insurance requirements are based on FEMA flood maps, and it's up to FEMA (and the local water management departments) to determine if and how the maps are to be changed.We had some major flooding in my area back in 2009 and the results were that some of the flooded areas got reclassified into flood zones that required insurance and some did not.

Does it make sense to put money away for major future expenses when the property is recently rehabbed and won't need major repair while we own it?

And usually you will be able to gain access to such list at no charge, you just have to call the city up and ask for the "code enforcement" department (as it's usually referenced regardless of city).

It's the only way I'll truly learn this business.My day job is working in the default resolution dept for a major bank.

Ask about current market value of a fixer and about major improvements to your replacement property and how they affect value.

Go after private or hard money loans where the majority of the approval is based on the property itself.

I should add that i am dealing with the most unlikable Section 8 department of USA (I am absolutely sure about it : ) (4) I don't know there is a rule about that.

For me the end goal is to build a portfolio of passive income that will enable me to permanently depart the rat race and do what I love without feeling any heartburn.