Especially because with REO's, the form of title/deed the bank actually gives you may vary. 

With each sell we have been able to make some profits which has given us hope that this is something we might be good at with an actual investment property and not our home.

Don’t just show the potential income with a hypothetical tenant, but a tenant that is fully committed to actually moving into that property with a set price.

The skip trace software is amazing because the more data you can put in—the tax mailing address, the actual physical mailing address, the person's name, the cities they're in—it’ll start pulling all their known telephone numbers, email addresses and mailing addresses.

A roof or major mechanical replacement is not all the sudden less because the property costs less, so the % marker gets majorly skewed.When you inspect the actual property you will have a better idea of what to have set aside for Cap Ex and other reserves like repairs and vacancy.  

The reality is that you are probably getting some thick bs on the witness protection scenario.

Nonetheless, there is no substitute for actually going through a transaction.

I haven’t actually got a deal yet and have no mentor but I’m trying prepare and think ahead of how I could handle a situation like this when it comes and I’m sure it will. 

That’s actually who I was already leaning towards.

You need to get real comparables and find out what the house is actually worth.