Actual foreclosure is on the East coast a Sherrifs sale and you can google the state and sherrif sales and the rules will be on the websites.. but its one of two process's either it requires a non refundable deposit if your the successful bidder or you need full cash at the sale.

The IRS generally does not allow you to deduct expenses for a property that has not been placed into service, as deductions typically apply to operational properties actively being used to produce income.

It passes the 1% rule, but it barely does.

I had to spend a few days backlogging two months' worth of data, that's until I set up the automated rules.

I invest in the Kissimmee area, #1 rule of buying real estate is location. 

This will be my second time its listed and so far I've gotten quite a few people interested in applying and only 2 that actually have so far.

I am looking for advice from seasoned house flippers, both in my local market and otherwise with a track record of success; or even with sound wisdom that can be applied to this potential deal.

Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

. - Also, Section 8 is NOT what most investors think it is - or else demand would have caused the returns to drop.DM us if you'd like to discuss applying the above to Detroit market:)

The 3x rule is just a rule of thumb.