I see and report on 100s of properties monthly and personally have seen it all in REOs and the horror show of humanity that goes with that.

I think in many scenarios it is human nature to postpone big ticket items to maximize cash flow and when the property is sold - those big ticket issues are sold as well.So deferred maintenance is something I would look very closely at.Chris

I must admit that buying at or below tax value is a bit absurd.

Break your sets down to price per square foot.Websites such as Zillow and Realtytrac are Automated Value Models (AVM) which means they collect this data and calculated it without any human adjustments.

The mentally ill must be cared for in a humane and good way, letting them choose to walk the streets e most inhumane thing we have ever done.3.

Managing capital: human and monetary and trying to make the most profitable decisions possible.

Are you with Habitat for Humanity?

That's about as much leverage as I want anyway.As far as HELOC's go, I'm assuming that most people want to lock up long term fixed rate loans, not have a ton of floating rate debt at whatever point the worlds' lenders ascertain that the future US govt cash flows available to somehow repay the spiraling debt and unfunded liabilities (a mere $100T or $1M per household), are woefully and absurdly inadequate.

This is especially true if you want to live in areas which are considered high-class but where the rent to value ration is absurd.

Here is the good part....Bank of America donated it Habitat for Humanity.