And I would encourage you to even cap your max bid lower than that, since you still have to account for any property that is still occupied (and that you might have to do "cash for keys", and that occupants can become irate and inflict damage, plus other factors...)And of course, purchasing with the above 65 to 70 percent rules does not guarantee that there will be positive cash flow; those formulas usually are used for re-sales.

So, for any problem in any REO that is inflicted upon me, I take an appropriate deduction from the price that I offer; that way, even though I end up paying for the problem, the discount has already been given to me by that bank.

When I buy a house for resale, I seek financial terms that don’t inflict personal liability for debt.

This damage was entirely self inflicted by congress.

You can't bill them for that month, but you cn certainly bill them for August.This is, to some extent, a self inflicted wound.

You have a self-inflicted wound!

I believe that this is one of the few places I can come and be highly likely to find people of this caliber.As for the times, I am glad we are having this discussion over the internetbecause high spirited people are more effective and successful when there is a bit of time lag between thought and deed (as the wind up of this thread has proven).One of the things that I remember the most from a family history I read concerning my surname in the SOuth of the US in the 1700's and 1800's.In my family line, for more than one generation of land holders and tenants alike, practically every adult male died by gunshot wound in a duel or by gunshot wound inflicted by the family member of the loser in a duel.Now a days we return to civility with a "guys".

This is largely a self-inflicted wound as you let this tenant get more than an entire month behind on rent.

It's not like we were pulling out fingernails or cutting off digits.I'm not saying I agree with torture (the rack) but, those are tools used to gain information that saves lives without inflicting permanent injury.Sorry for the tangent.

I told them I would convert if they offered 4%.Another strong arm tactic inflicted upon the small business owner.