Fyi, one has an fmv of apx 120k, while the other (bought as a sort of test case) is only worth about 50k, but they are a dime a dozen.

I hope it drives me to become a successful real estate investor in the future.

As a result, I'm always testing new ones. 

I will not buy or lend on a property that is more than 2 hours drive from my home.

In some areas well water provided to others must be inspected and tested routinely.What are expenses? 

This is what will drive whether or not you need hard money as a bridge loan.

Once I know 2 or 3 areas I want to farm, my plan is to drive them for vacants, see if county code will give me a list of tagged properties, run a search through the appraisal district to find the owners of the vacants I found as well as any out of state owners. 

I always like to use the following example: "You can buy the best building that is fully occupied on 5th Avenue in NYC or on Rodeo Drive in Beverly Hills but if you make a bet on the wrong person and they run it into the ground then ultimately you will lose your building to the bank and it didn't matter that it was the best building when it was acquired".

Its more about the viability of laminate flooring actually standing up to the test of time (minus tenant abuse) given the age of the home and all things that go with it.

When you find your first deal you'll have a ton of questions but that's what the forums are for.One last note, listen to the podcasts, every one of them, while you're driving.