The place is frequented by drug addicts and homeless vagrants who are taken advantage of by the tenants in exchange for allowing them to stay overnight.

I'm not part of the administration of this group or anything but I'm sure they wouldn't mind me posting the link to their website.

I just had a deal get rejected because the agent who did the BPO was on drugs or something and gave the bank a value way too high.

If you have a separate LLC for every property, you're going to have big administrative hassle, depending on the state yearly minimum taxes for each, and -- this is where he comes in -- a separate tax return for each.

I knew it was a low income area I would be in but....darn these people have every social ill imaginable: drugs, alcohol problems, no jobs, single parents with 3-4 kids, etc.

prallen, I assume this business is the drug rehab business you discuss here: http://forums.biggerpockets.com/viewtopic.php?

I work as a network administrator for a global engineering firm, with entry level pay.

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The guy turned out to be a convicted felon with a history of violent behavior and drug trafficking.

We just recently got involved in the bulk REO game (by sheer happenstance I might add) and am looking to learn all I can about this niche industry.When I'm not working in RE I volunteer as a consultant for SCORE which is a small division of the Small Business Administration.