For four tenants, need additional driveway/parking (probably going with permeable plastic laid on the grass - I have this at my house and I love it, and no permit needed for a pad). 

You give a pm almost 400 a month to collect rent post notices and mow the grass on this building ?

But it comes from the background of 1000s of transactions and years before I started working as a QI  when I got so fed up with the tax on a flip I did in 1996 ( www.the1031investor.com) that I learned about 1031s and started doing them myself personally. 

Reading the permit it appears the waste water is drained into tributary and then fed into larger river.

Even with all of that, I watch what the Chinese economy is doing and I watch Fed Interest rates and the Russell 3000.

You are buying a lien position (mortgage) and other liens can supersede it or have taxes, UCC liens, fed tax liens etc that you would have to pay for when you bid on the defaulting mortgage.

During 80s, we are facing fed rate about 10% and mortgage about 15%. 

What MI needs to worry about is that maybe the Feds are starting their own site. 

Also, the online banks are generally the first to increase their rates after the Fed announces. 

You know the typical signs to look for over grown grass, tons of newspapers sitting in the driveway, weeds growing over windows, just signs that scream my owners don't care about me, one house even had a few meteor sized holes in the roof.