While I've bought numerous HUD's, a Freddie and REO, I've not ventured into SS territory.

With over $100k current yearly income and perhaps a $2,000 ish mortgage on your $240k home I hope you are able to save up a significant amount in the event that you stop working the current job and take time to venture into other business.While you still have the income and may be able to take out a loan to acquire investment property, why not check into an multi unit income producing property which you can receive immediate cash flow?

If you would like to venture into the low income areas, there are usually great opportunities for higher returns but you need to do so carefully.

What happens if the seller dies, if additional liens pop up, if the seller takes bankruptcy, if the city decides to take the property for a parking lot, the list goes on.....Simple contracts allow simple problems to become costly.There are investments that every business owner must make in any business venture.

I'd love to see more questions in the DIY section of the forums.

This isn't really a DIY job.

In fact, I would venture to say that I believe in evolution just as strongly as you believe in the Bible being true.It's just as hard for me to decide to believe in the Bible as it is for you to decide not to believe in the Bible.

Im still new and I wish to learn as much as possible.I wish everyone to be successful in their real estate ventures.

This isn't a DIY task the first time.

As in any venture in life, you do have to learn to separate the good from the bad.