Thanks for the response guys especially your incredibly detailed and educational response Finance.

A quote from Buffet: "Wide diversification is only required when investors do not understand what they are doing."

They could have a property that makes incredible sense, but only looking to see if they can get a high price. - On the other side, the numbers for the deal could look iffy, and after speaking with them they may really need to sell, and be willing to work with you on better terms, or sell for less than they actually stated up front or in an ad posted.

It's the local component that leads to state-wide variations.

I learned an incredible lot from some REO and Short Sale luminaries, in a smaller setting that allowed for alot of interaction and Q and A.

At that point your universe of options will be wide open.Also, you can do leveraged buy-and-hold deals all day long at 40-50% ROI, given these low rates and generous cap rates on beaten down prices.

Just as Josh mentioned, the true investor gets antsy when they are not doing something productive. there is a wide gap between the doers and the dreamers.

The surronding areas of Cleveland are really great places to live and you can find incredible deals.

Lease Options are wide open and you can structure them any way that works for you and the tenant.

You've got an incredible amount of labor just in small things like doors, floors, and sheetrock.