Most vacation rental properties are some of the most desirable properties in a given area, which is why vacationers are wanting to rent them (i.e. they are in close proximity to the amenities of the area and are comfortable to live in).

You just can't pick and choose who you are going to charge more...

This is a bit more of an advanced strategy and you need to know how to investigate each property and due the due dilligence necessary to ensure a profitable investment.I would suggest as a newbie, you choose a different strategy to start out and get your feet wet.Now is the time for the buy and hold strategy.

We are all trying to make a buck, but just because some guy falls off a roof when he choose to climb up there without any insurance, now thats my problem?

You can pick and choose which parts you need to use.

Do you mind my asking why you are choosing this path as opposed to any other?

Is it possible, in theory, to make this work with a $25k house (must be a neighborhood I'd feel comfortable walking in at night)?

I don't feel comfortable driving in there alone in the night sometimes.

You can still look to close a short sale up to the date of the sale and if the lender so chooses they will give your deal more time.

so just cause he has extended so much effort and his 5% wages have been in the mix since last september, he told them to go pound sand, and saxon seemed all to comfortable with the idea of foreclosing on the house.