Jason,From my understanding, the last recession had a huge impact on some of the flippers here on BP. 

Although most of the podcasts and investing forums don't directly relate with investing in rural areas I feel we have a unique opportunity to have a larger impact on a smaller community.

I am particularly concerned about adverse selection - I am being offered the 'left-overs' that more experienced players (including the broker him/her/itself) have/has passed on. 

Do something that will impact your REI Life!

Cash flow and time flexibility but also impact in one's community (making a difference) through housing

Loaning to folks like you is their business, and they have to be protect their business, which means they are risk adverse on the rehab and--more importantly--on you. 

Once you have that figured out, you need to understand "loan to value" (LTV) and how that impacts what you are able to buy.

They may not try to deceive anyone or "cook the books" like Enron did and if they did, there is no real public impact. 

My goal so far (please feel free shoot holes in this plan as I love learning from constructive criticism)...once I get my 'wife hack' situation figured out (she is the greatest woman I know but is one of the most risk adverse people I've ever met.

Again, my sincerest apologies for to all parties impacted directly or indirectly, anyone who knows me personally can attest that I am passionate about RE and my clients and I too am infuriated at what has come to light!