I was watching American Greed and it occurred to me that some things aren’t pure black and white but things get out of hand quick.

The deal makes sense for my COC and $/door minimum criteria, but as i've listened to more experienced people on the podcast, i'm wondering if i need to add a criteria for annual profit to be >$5000 per property because it seems like that may cover potential disasters/capex problems that occur without wiping out property profits for multiple years.

Also, watch out for fees you may not even think about (because they don't occur in a "normal" transaction) like Hubzu's "Technology Fee" which can be sizable.

When I run my numbers on the actual income and expenses on an SFH, I make sure I account for the increased taxes that are going to occur after purchase, you can call the tax assessor for that property to check or go to the county's website.

@Wayne BrooksThere was NO correspondence between any of the parties which would indicate an extension of the Contract past 1/28.The demand for EM was after this date.I also think we have to keep in mind that damage to the Seller is not due to the Buyer's actions but from the Seller's Civil Case.HOWEVER, there is significant damage to the Buyer, for instance, increased mortgage interest rates, cost for application fee, Title Search, Attorney retainer, etc. which are caused by the Seller's inability to deliver marketable title.As far as if Kevin is still in Contract, the date that was last communicated by the Seller's Attorney was 12/1/2017 where the Civil Trial was to occur but then was postponed to 1/29.Kevin verbally corresponded to John the Sellers Agent and said that if the 1/29 date is further postponed, we would cancel.Additionally, the Mortgage Bank Canceled the application due to uncertainty. 

That typically only occurs after the tax sale process fails and the lien(s) must be abated in order to transfer to a new owner.

I assume its from water damage that occurred LONG ago (the current owner says its been that way for the last 20 years). 

Also, you can engage your lender early 45-60 days out to begin underwriting the loan from the 6 month requirement and arrange settlement to occur right around the 6 month mark.

It occurred to me that since these are duplex properties I could refinance each into conventional mortgages. 

Bloomberg published this article today to summarize a Redfin report that one third of home buyers in the U.S. are bidding on houses sight unseen:https://www.bloomberg.com/news/articles/2018-02-26...Most if not all of this activity occurs in hot markets.