For instance, do a few fix and flips or REO/Short Sale flips for large checks and essentially double your savings account(obviously might take a little while but certainly doable) now you can buy a primary home and still have 150k to play with.

Thanks for the compliment.You are essentially talking about a fix and flip sort of approach.

In Colorado we use a deed of trust with performance rider that essentially enforces an option to purchase.

Essentially, you'll always have a partner in your investment.

I can see why you may want to get creative and essentially borrowing money to make that first deal, as waiting and saving your own money can take a while, but don't rush into using that same method to do anymore deals.

Hi Steve, here are few general tips, hope you find it helpful.Planning and preparation are two essential aspects before considering home inspection.

There are essentially two types of insurance you look at for an investment property (in addition to your own personal liability insurance):- Landlord Policy- Builder's Risk PolicyThe landlord policy will protect against damage from tenants, vandals, some acts of nature, etc.

Note that there are areas of the country, such as the West, that have essentially cratered for all property types (apartment, office, retail, and industrial).

I am wondering if one of those transactions did not get recorded (essentially clouding the title to the property), would there be a fine from the assessors office?

They have essentially no value because, as you note, the house is worth less than the balance on the first.The holder of the second could sell it.