Real estate is definitely a market where information is freely available - you comped prices using Zillow, I comp rent prices using it as well.The discount you see on REO properties typically comes from their condition being less than desirable or the potential for major defects.

And what if I order the wrong part or if the part is defective?

I am also sending a proactive message to my other two booked guests to let them know that all defects flagged in the bad review, including the smoke issue, will be cured by the time they arrive -- basically, as Abba sang, "take a chance on me."

sometimes I find good houses that have been published for over 2 months and I wonder whether if those are good deals or that perhaps not because when you go to see the house you might find defected that holds you off.what is your experience finding good deals?

The problems I've had with customer supplied material is that they either tend to buy the cheapest of the cheap stuff or they have an issue with defective material and expect me to warranty something that they bought. ex: I had a customer who had bought a water heater themselves and the electric heating element went bad 6 months later.

All to frequently the Borrower claims the foreclosure is defective because of some defect in the proceedings. 

I Bought a slab foundation house in Oakland county Michigan, a month after close discovered mold and water damage in kitchen & bathroom. House value is about $150000 and mortgage is for $140000, doubt a investor w...

If you think about it, for many investment purposes what do you care IF some defect was “hidden”’from you?

Like Mr Winter mentioned, an inspector will do visual inspection and most of the time we can notice other defects with out opening the walls.

However, many buyers are willing to purchase property subject to defects and liens if there's enough value in the property.I hope this helps.