First Field Research - What Questions should I ask

[Ryan Gettelfinger]

I did field research today where I found two potential properties. The first was a smaller, 2 bedroom, that looked to be in great shape but Bushes and weeds have over grown the property. Come to find out it was Bank Foreclosure. When asking the neighbor next door, he said "He moved in last June and at that time the owner was already deceased. The Bank rarely sends anyone to cut the lawn anymore."

I asked him if he owned or rented the property next door and for how much. He Told me "Renting from a friend at cheaper price."

I have heard neighbors can be a good source of information on the story behind the house and the market price in the neighborhood but I wasn't sure on what others questions to ask him to an idea of the neighborhood and/or the house???

The second house was run down in an A Grade neighborhood. The Neighbor I spoke to this time was far more talkative and told me about the owners situation. It a daughter that owns the house and her mother with her do to medical issues. The family looks to be having a lot of trouble with keeping up with the property. I could possible get her out of a bad situation and I'm going back again this week to see if I can talk to her. This is my first time speaking to a potential seller so I'm a little nervous. What kind of questions should I ask her? Should I come right out and say I'm looking to purchase it for real estate investments?