Then on the exit end of the deal, an investor pays $50k (net) for the house, spends $20k on repairs, and potentially profits (or holds equity) the remaining $30k (that also allows a margin for error in the rehab costs for bad estimates and/or surprises). 

Another thing to consider - if you have lived in ATL for a while, you likely know the market pretty well, so spend a month or two building up a team, then move to the city with the higher paying job but invest in ATL.

I am in my 3rd month and have successfully signed two contracts closing one in just a few days the second one in 1 week and the 3rd I just signed yesterday, I have been working very hard on them all, I didn't think it would be so much work but it really is work I don't mind doing because one reason I got in to this business is because I am tired of working hard for other people and making money for other people, I spend time with my family I'm home with my wife and kids, I'm working and paying my bills, right now that's all I wanted when the I start making more money and more money I will be going harder at it! 

Also I'm willing to fly down, and spend some time in the Chicago areathanks,Dustin

So, unless the house had recently changed hands with a mortgage and title insurance, it's always best to spend the time and look at the titlework ahead of time, because the attorney puts it off until the last minute.

@Charles Fabiano  We send out letters and spend 1600 in marketing per month.

Anyone have any thoughts on why/why not this would be a good or bad idea (besides the obvious "don't spend the cash").Johnny

Keep all the money you would spend setting up complicated business structures and put it in the bank.

Just spending my days and nights reading and listining to podcasts and getting educated.

Haven't bought, still debating on exactly what to buy and how much to spend on 1st deal.