I am not an expert on this but form what I have seen from other bP posts these folks just shop you around and get you a bunch of credit cards at various banks nation wide. and that can be fine and good gives you cash to get going but not a true line of credit or a bank loan..

There is sooooo much conflicting info coming from "experts" left and right.

A home is the anchor of our social structure, it provides security that effects social interactions of a community, economic activities are based in RE, schools are funded by RE, homes are where the sick rest, where children are secured and learn, where families stay together.

Omar - don't forget the political aspects of real estate.In respect to development (or re-development), we can only imagine how the economics of a new tract built in a tough area may have played out.Politician needs to repay a favor to a supporter, who just happens to be a developer.Developer sees an opportunity to (maybe) change a negative economic trend in that community.Developer builds one less profitable project so that a much more profitable one can be approved in another community.Bank offers low, subsidized financing due to local or national programs that exist at the time.Just because it doesn't (or didn't) make sense, doesn't mean it was unprofitable.

@Steven Picker, I am not an expert on this topic and I see the thread has attracted a couple experts.

I'm no expert and I'm sure other people would have different ideas but to start I'd look at Craigslist and see is there is anyone buying/selling real estate that sounds like an investor, maybe says something about wholesaling or flipping.

Like most I also have business ideas revolving real estate but I believe that in order to start any business you need to be an expert on your field.I currently live in Newark NJ I had to go back to work for documentation purposes and me and my brother own a family business that’s been passed down to us and we currently grew to a store front in Furniture Upholstery, my original plan is to purchase my first investment using a FHA 203K loan on a 3 family for cash flow, I also have an investor willing to give me $10,000 so I was planning on using his money for holding cost I’m going to put up the 3.5% down payment and closing cost.

But I got caught in some interesting stuff.Sure, Bay Area, LA, Sacramento have scary prices like 3 bedroom houses for $1M and rent at 3,000.00 (far from the basic 1%), but I looked over cities like Fresno - the fifth largest in California, with 500k+ habitants and a lot of good looking demographic and economics numbers - and I've found several properties in the 100 ~ 200k range with some close to %1 rental numbers.http://www.trulia.com/real_estate/Fresno-Californi...http://www.zillow.com/fresno-ca/http://www.city-data.com/city/Fresno-California.ht...Fresno is just one city and California is a big state.

This is the experts wisdom!!!

On day 91 those restrictions go away and you can sell it for as much as you'd like.I am not a RE agent or HomePath expert so someone may have different, and more accurate information but as far as I know those are the guidelines.Best of luck!