nice input r2.don't go into it with no money - especially if you're going to hold the properties.

Any and all info is appreciated, especially that info regarding bartering for downpayment on lease to buy options....... thanks and is nice to feel in such capable hands.

Find something cheaper and pay cash, I know it won't be in CA either.Starting with an average, in this case way below average, deal is like saying, "I'll start out dating ugly, skanky women and work my way up to cute, nice girls.It sounds to me like you're suffering from "gottadoadealitis".

I'm also interested in short sales because it sounds like a nice way to get good deals (though some people here seem to think this method is not that viable?

Here are some books that I found very useful.All Americas real estate book- Its old, but it has a nice perspective.Real Estate Riches - Dolf deRoos.

My first modest repair issues should likely surface in about 5 years, at which point I should have a nice chunk saved up from the "maintenance fund".

They still have bills to pay.Now its always nice to think that there are people out there that aren't in it for the money, and I sincerely think there are, but I also know that many people do things for the money.

just find something with the most conservative numbers that will give you a nice return or cash flow.cash on cash return is what it's all about.

It's nice to see all the different ways that people go about their deals.

scottthanks for the input. the 70% ltv is interesting. i'm doing one right now where the interest rate will jump 3/8 to 1/2% from 75 to 80 ltv. at $64,000 it is not a significant amount, but definitely something to keep in mind.i'm paying cash and after rehab will refi(1-2 months most). not sure how much weight that will have on refi.i even thought of offering a private investor all proceeds over 80% when buyer sells or refi's. that way i get my cash profit up fron and monthly pmts with the wrap.still a work in progress for exit strategy.jim