Save up for a down-payment/closing costs/rehab, pay down your debt, get your DTI (Debt to Income) ratio at a good level so obtaining financing will not be an issue.Do not go bankrupt on your first deal, have an emergency fund in place.I think it's crazy to jump in without working on the above first.

That makes this a great asset to own.I do have some good relationships there in MA, let me know if you'd like me to get you in touch with a trusted contractor. 

Kyle, I live about 45 min down the road and trust me when I say that PA is as close to a warzone as you can get in East Texas.

Hey BP,

Has anyone ever had success with speaking with deutsche bank about REO properties ?

Another option is to put the LLC that owns the property in trust.

Agree with the above in that taking direct payments requires an extra level of effort on your part.

They probably won't charge you crazy fees and they trust you more. 

Then once you have enough income/properties, start an LLC, roll the properties into land trusts (LLC as the beneficiary) and call it a day!

(including myself) is in a land trust managed by a property manager.

And you can do this at any level of leverage, doesnt have to be the full 70-75% LTV so you are still cash flowing strong.