If you wait until everything is perfect, life will go by fast and you may be really old, like 30. :-) I wish you success!

Waiting tables can be lucrative... and a great ground zero for making connections.I would start with reading books, following blogs and listening to podcasts before you spend money on a RE license.

This website has created a great online community for asking questions and providing resources for newbies like myself.I can't wait to connect with other investors on BP.

There is no need for a license since we're buying the house.We can just wait to buy it the auction (3-6 months from now) as @Bill Gulley said or just do a shortsale as @Wayne Brooks suggested.

. - if you do end up with a personal check, you could go to his bank to cash it - no waiting - but this could end up a hassle if you have to drive across town to do it.

If you have a strong historical capital and rent appreciation rate it might make sense to get into this market and wait for natural rent increases and appreciation to take hold and make for better investments if you wanted to stay local.You could also consider looking for turn-key investments in another city (Indy, Memphis, etc) where the returns could be much better - but the risk without having the ability to drive by the properties could be greater.

I love reading these success stories.I can't wait to hear about the next one!

It seems to put you at a real negotiating disadvantage since you have to wait until you have made your initial offer to get a sense of the condition of the property. 

It happened on a Saturday and Monday was a Holiday so I had to wait until Tuesday for the part.

We put low flush toilets in all our units - unless the waste line is deteriorated cast iron (read: high friction), then we will wait until we upgrade the plumbing.