I still believe fortune favors the bold though, it’s starting to turn around already.

Beyond @Tim Herman's spot-on advice, this old Victorian is going to cost a fortune to maintain.

Do it locally through REI clubs and virtually through this site.

Fortunately we don't need the extra income to fund our current lifestyle.

I've read up on the 2% rule and this seem to be an utter fantasy in Fresno CA, which is pretty depressing.We feel that we've got a very fortunate head start that many people could only dream of, but we're not sure how to take advantage of it.

One of my business partners who sold his garbage and recycle business to waste management in 99 for 65million .. he LOVED to set up people in this conversation.WE would be at a club event or a dinner party or wine deal at one of the local Napa wineries ( we were both members of the same CC) and I can hear it coming.. someone who does not know him and was usually a stock broker would start up the what are you investing in conversation.. and Bill that's his name.. would say I have double tax free muni's  and of course the borker would say UGH those only return 3 to 4% you can do much better your cash flow is very low.. he would say.. well it depends on how many of those bonds you have.. and then proceed to tell him he had about 40 mil in those bonds.. so making a nice 100 to 150k a month double tax free kept him in beans and rice. not to mention the 40 acre vineyard estate he owns in Napa that he bought from the president of firemans fund insurance ( awesome house) and his lake front house at Tahoe his two or three trophy ranchs for hunting.. etc etc.. 

You can also check meetup.com or search facebook for real estate investment groups, clubs, or meetings in your area.

Jump on the Meetup website and do a 25 or 50 mile radius search for real estate and you'll find all the local clubs the @Dan Heuschele mentioned and more.

BUYER IS ALSO A FORTUNE BUILDERS STUDENT!

@Keith Brown, as Jake mentioned, if you are in a fortunate position of having someone co-sign for the mortgage you can acquire a potential flip this way.