More importantly, this is an REO sale, and they typically come with title insurance.....which means the bank will pay off any past due taxes and liens that survived the foreclosure auction.

I can attest that the folks offering help in this thread are good guys, in particular @Don Harris and @Brian Orr have been very helpful to me in the last couple months as I have been ramping up and getting started.

The market has tightened up a bit and this may be the reason why some of us survive as investors and others fizzle out. 

@Brent Davis The key to success with 30 year notes and max leverage is insuring you have the savings,  cash flow and adequate number of doors to survive a down turn in the markets.

Hello @Rex Harris, welcome to BiggerPockets!

In most cases, the lease survives the sale and the new owner must honor it, unless there is a special clause in the lease giving the landlord the right to terminate in the event of a sale. 

While many will love to leverage as much as possible all you have to do is go back 10 years and those that survived were those who were not over leveraged.

Contact Dean Harris with Crestcore.

Have my eye on a 16 unit that has been hit with a death of owner and now illness of surviving spouse(at least that is what RE agent claims.) 

But at 3-4X the costs of a regular roof, and no guarantee that they will survive the next hail storm (the five year old impact resistant roof I replaced did not) I can't do it.