No more 'rent money' out the door.If you must learn the ways of renting & property management, then 'rent out a room or two'.

This must work once in a while, all banks seem to start about here with their REOs.

You must do your own due diligence and make sure the numbers work.Figure out what the true retail price for this unit really is.

You must incorporate or LLC ASAP!!!

Now my agent tells me that it is back on the market and that the deal must have fallen through.

(Of course, your covenant must be good... )

This is a MUST.

Here's a nationwide BPO service that I recently discovered.http://www.foreclosuretrackers.com/broker-price-opinion-services.aspxI don't know if one must be a member to use the BPO service.

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If there were to be any loss, you as the tenant-buyer must have some control over any insurance proceeds.