A STANDARD FHA loan, would not be available on a home that needs a new roof, ($10-$13k cost for replacement), new flooring because the floor has issues ($8k), new appliances ($3k) and a new A/c ($6k) .So the bank finances the home, sets a $30k escrow account associated, and you take care of the major components that would normally stall any other FHA buyer or be a hindrance in any other home inspections.

I am 22 years old almost 23 and have over 2000 a month left after all my expenses every month and i still live at home. my area is popular with some c- to c+ deals but not sure if it is worth it to start one if i have the free cash flow to go for a higher end market. my mind is flowing with a ton of ideas and any help or advise anyone has would be welcomed.Thanks and have fun!

@Bryan C.

Terrence C. welcome to BP!

Just my opinion I think we are going to see the lower end deals( subprime, and type d and c assets) making a come back for investors.

I am looking for B/C neighborhoods (3/2, 3/1, 2/2, 2/1's).What are some good B/C areas that I could look into?

I bought it for only $70K, put $20K into fixing the foundation problem, new a/c and heat, new roof, interior renovation, and landscaping.

Thanks Mike, I'm a lurker here and its always great to read about other peoples experiences etc but real estate and investing can be very broad subjects.I'm not necessarily looking for a club as much as I'm looking for a field, subject matter to study, or some good recommendations on books etc.Originally posted by @Rich C: Eventually I'll network and learn as a go but is it worth me diving into the realtor side of things?

When you buy an a/c, the first thing is to find a reputable contractor, which may not necessarily be the cheapest or the most expensive.  

C property in B- to B neighborhood bordering on C- neighborhood, all taken in local terms--it is a high-crime city.