OfflineI just bought a property in Florida for $20k. I paid a $5k assignment fee, $8k rehab, and the Realtor thinks it will sell in 30 days for $70k. Keep in mind, I'm in Utah, but developed a power team to handle this transaction over 2000 miles away! I love real estate! Just do it in 2012!
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Just a comment...this is the type of thing that shows how people can do real estate various ways and with various means. Using your sources can help you for real..and doing this deal out of state is done all the time. A lot of your success will come via the realiability of your team...in state or not. So Vet your team carefully..get references, check on actual deals done as much as you can. I have had realtor say this and that and magically it might be true or not. They dont have skin in the game so working with you is simply an opportunity, not a risk, for them.
BEST OF LUCK