If you are interested in URI main campus in South Kingstown,  you need to get familiar with the area of South County and its quirks.

Greg, I understand your frustration, but I think that this offers a great opportunity for those many tax sale investors who incorrectly thought they needed only 3 years of seasoning to obtain a tax deed with no redemption rights.

This is an area where people use incorrect information to calculate the cap rate.

I just spent several hours today correcting a few very incorrect tax returns prepared by CPAs who advertise their services here.

The bookkeeper might not know how to run budgets correctly or set procedures to make things run smoothlyYou get a Real Estate Controller who has been doing nothing but real estate accounting for years and years and you won't need to micro-manage, no need to worry that expenses are coded incorrectly, does not rely on the CPA and in fact knows how to communicate with the CPA efficiently to save you money.

Wayne, you are using the 70% rule incorrectly; from what I understand, the 70% of ARV includes your profit margin. 

Those are requirements, not just good ideas.You are incorrect in regard to the source of the gift being exclusively limited to family members.I believe that there are some other select approved sources, such as a close friend, employer, and a few others.  

Many that were in my market also did not make it...but they were buying incorrectly from the start.  

Currently, I start with a title search to get a basic list, but the owner name is not provided and the square footage is often incorrect. 

Personally, I wouldn’t make an investment and base my plan on something that’s illegal but that’s me.That's incorrect I am afraid.