We get into trouble when we focus on just the upside or the downside to the exclusion of the other.Congrats on your find.

It will be a great marketing piece as well if the local newspapers report it as well ! 

This is why we are almost exclusively a B/B+ turnkey operator, it is very difficult to find the kind of deals in A areas that leave enough margin for instant equity to compensate for the reduced cash flow (due to high loan payments, high property taxes, etc).

I have a question regarding an add in my local news paper classifieds.

Greetings;I am moving to CO and am unfamiliar with the paperwork involved in a RE transaction - specifically the:  Exclusive Right to Buy Listing Contract;  Buyer Agency (is checked)I have bought and sold property in California and have never seen a form like this!

My Broker and I are going to host a FREE in-person class for investors who want to learn about the REO process and how you can buy exclusive off market deals!

Your financials are too tight to not have predictable cash flows on this property.You also could lose the home sale exclusion if you convert your former residence to a rental.  

But I can give you some general advice.There's usually public notice involved so you pick up the list from your local legal newspaper or website.

These abandoned "Blight" homes have been in the news paper, in front of city council and even had laws trying to force owners or lien holders to do something with the property.

They must have used the property Openly, Continuously, Exclusively, Adversely, Notoriously.