A cautionary tale;I have an elderly client in MA who's late husband left her several rental properties when he died.

But I lived to tell the tale.

I share this story as a cautionary tale.

We also looked at another complex, 15 units, and the same scenario - shady tenant base, owner that paid a ridiculous amount and is looking to now cash out before there's another collapse....it's almost comical, and the sellers are spinning tales of 8% and higher cap rates - yet none can begin to calculate how they got that number.

I might suggest you read carefully what I said instaed of skimming over it then.

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I have noticed a lot of wanna be gurus and those looking for investors showing up here with tales of huge profits and gains.

(I have on my list 2-3 points, valuation of $500 per property, closing costs of 1%, is this roughly correct)NO a hedge fund wont will not foreclose on you any sooner than a bank will so you get the normal grace periods and the normal nasty grams to to get caught up, as they do not want the R.E.O. any more than a bank does.Given your scores a portfolio loan should price around 6.5% to a foreign national or LLC with no tax returns and NO SSN--- As most banks who will loan at 4.5 - 5% may not loan to a LLC and foreign NON US national with no SSN.

Get gram the hell out of the big house she doesn't want to be in - and add a property to my portfolio.

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