Pete and look for something that can yield .8 to 1% rent to value, plus something with neighborhood staying power or upside potential for appreciation.  

Problem is coal fired power plants take 10-15 years to build, and last I checked there were 0 being built in this country. 

My options are:1) Hold out, continue to research and learn while saving up more funds then buy a group of NPLs at a later date with increased barganing power from local banks. or 2) Prospect banks now and tackle a deal or two with this amount if at all possible.

I'm in the same boat right now, and I'm analyzing properties as if they were an investment and I didn't plan on living in them.  

Look at the deed of trust (security instrument), you as trustor (property owner) grant a trustee (usually a title company) the power to sell your property to pay the beneficiary (lender) should you default. 

Until then no one has the legal power to contract with you regarding the property.

Electrician found the power had just gone out.To sum up...I do not feel like I've got a partner invested in my success (what I thought I was paying for) instead I feel like I am a captive customer to increase their revenue.Thoughts?

Hello,Michael Here, all my friends call me "mick";Licensed Mortgage Broker w/a portfolio of private lenders in the SE-US (& always seeking more) w/ROI's on portfolios of 12-18% on Dirt,brick&mortar, 18-24.99% on DWMH's, Boats, etc.1 F/C out of 380 loans sold so far.Every scenario is different.IF YOU NEED MONEY for Purchase-Investment-N/O/O-Commercial-Waterfront-Hard Equity-Short TermRe/Fi-Rehab & the "Big Boys(read=BANKS) R saying :protest: & the Mortgage Guys&Gals U know R saying :violin: Let me B U'r :superman: It's ONLY $$, Right?!

@Mohammed Rahman shared some great advice regarding connecting with agents in your office/brokerage.In my short time involved in luxury RE, I've seen the powerful effect of an agent's network.

VERY powerful tool.