I'm going to get 1500 for a 3 br in Lee Harvard, fully renovated all in 75k, do the math :) All the best  Im not interested in buying turnkey and also not buying cash, I would run out of money real quick.

Hi, pre foreclosure in all of its permutations, before the bank sends Notice of Default (NOD) or efter which is state even county dependant but often starts a 4 week clock till the trustee auction are the 2nd most difficult deal scenario and IMHO only experienced investors should bother, the 1st most difficult deal scenario are bidding at the court house steps on lord only knows what is being auctioned off sometimes even 2nd mortgages, you need to do so much home work to attempt to reduce your risk at the court house steps...Pre foreclosure no one talks about these issues, always about the nice sounding stuff like "motivated seller" get a good deal etc etc both are usually not the case.- 95% of folks in pre or post NOD want to stay in their house, keep their house inspite of them 100% will loose the house at the auction. 

So, this is the second thread in which you've attacked my ability to do math and my integrity.  

I recommend doing your homework on the topic. 

Just do your homework (I need to do this way better) and remember most successful investors aim for the 1% and at least 80% rule ARV... if you don't see this in the deal, they agreed to buy it too high or they are making too much profit.

So you really have to do your homework solidly.

Now this is an annual thing (for all new properties).For rough math, you can generate a tax write off about 15-20% of the real estate value: one a million you can expect a $150k to 200k write-offs.

This can be less I just use this as a conservative estimate because the math is easy.   

You just have to do a LOT of homework and play by the rules.

but selling a trophy asset in a great area and then dumping the proceeds into money pits just because of paper math... would not be my step 1.hope this helps