Yes, Chelmsford is a nice area....which is why I am concentrating most of my investing opportunities in the distressed city of Lowell haha. 

I have a couple of quick questions for those out there that have been in this for a while that might be able to point me in the right direction in regard to a few tax questions (IRS sources would be the best):1)I purchased my first rental (distressed) last year and immediately had to put a new roof on it before I could rent it (requirement by insurance).

I saw 2 properties that where striped to the bone and the wannabe rehabbers simply did not make there home work (due diligence) and fell with a totally distressed property then they  could not afford to continue on...

Matthew Nixon, I am currently door knocking, sending letters to distressed home owners.

I generally approve of purchasing the distressed homes....in certain markets.

Might look at buying discounted notes, quality notes, from distressed situations and then allowing the borrower to refinance in a short period of time.

If the agent is good, they will have access to Hud homes, distressed properties, and foreclosures.  

I just wanted to get a few things clarified before I start approaching or sending letters out to distressed home owners.

Step #1 for you would be to locate a target neighborhood and try to find distressed owners. 

Your immediate area may be very difficult to find good deals, but within 2 hours drive you may find several great areas where you can find distressed properties and turn them into cash flowing rentals.