I feel as if i can build from the ground up then ill be able to get to the much more lavish places.

Thanks guys, I've read a handful of forums so far. ill continue to check them out.

Thanks Shaun, Ill definitely keep you in mind!!

Ill let an unrepresented buyer give me an offer.

I think this is the most important part of what I want to transmit: just as important (or even more) as what houses you buy or the ones you lose, are the ones you will get stuck with and don't want to buy anymore!

Ill admit I was naive enough to accept a loan with really bad terms to pull some equity out, since the original loan was for 285K.

Ill definitely look into getting an equity loan.

I was advised that I should set one up in each state that Ill be investing in.

Maybe ill see you at one of the REIA meetings. 

Ill definitely be making a call to the county planning department to get more information about the property.