My name is Colin Sweeney and I'm a transplant to the twin cities from the east coast.  

Holy, that is scary w/the renovation costs in New England that can easily swallow that cash flow...I will have to live really close by and do all repairs, maintenance, mgmt my self.

My ultimate primary goal is to purchase a 3 or 4 family with a FHA loan, live rent free, rent to low and medium income, and reinvest whatever money is leftover.

I'm a transplant originally from Brooklyn, NY where I started out in real estate many, many moons ago! 

I would say 98% of people in a forcloser situation think either they are going to get bailed out or just going to live rent free till they are kicked out.

I would then use the VA loan to acquire a duplex or triplex and rent out the other units so you can live rent free.

They are also generally new “home-livers” and new to appliances, HVAC etc. so not great with changing filters etc, and call me for things that any normal homeowner could manage themselves.And people don’t clean well when they leave :(

The other person just had mail delivered to a unit where he allowed his grandmother to live, rent free.

We also live rent/mortgage free. 

What if - What if they need the cash in 30 days to continue to pay for their spouse's cancer treatment, or child's transplant, or mother's hospice care?