Like a CRM (Customer Relationship Management) system I can organize my contacts and my communication in a way that makes sense to me rather than having to search the forum for something that I think might have been said by someone.Most people do seem to be using the profile section to provide a description of what they do.

The forum titles and the descriptions provide some ideas of the different ways people invest.You can also find many books on almost every variation.There is no rush to pick one specific model.

.- Description: I'm not a huge fan of the written description.

From that description, it's also not impossible that the gentlemen you describe was not simply interested in deterring you from attending future auctions.Think of who has more of an interest in the actions taken, a "bank representative" who has completely wasted his time at the auction, or your competition trying to eliminate you.Also, I'm curious as to why you say it was clearly worth more than $500K when no one bid on it.

Looking for opinions and discussion.Here is the description:22 Units composed of 8 - 2/1.5 and 14 - 2/1100% occupiedMonthly Income = 11kMonthly expenses = 4kNet Monthly Income = 7kAnnual Net Income = $84,000$925,000 price makes cost per unit $42,000Located in Central Valley of California As I said before, looking for other investor opinions and discussion on why you would or would not consider a deal like this.Thanks!

From your description, I can assume that this is an elevated foundation.

Sorry to hear you troubles Nate.I CRINGE when I always hear an investor say I bought a "turn key" investment.So far I have never heard of one turning out good but I am sure one exists.Those kinds of repairs costs can be normal.Especially if you have an older property that is being rented out more things will go wrong on a daily basis and it will be more management intensive.The item in your management agreement I am sure will be deemed and enforceable part of the contract unless it is deemed "vague and not descriptive and un-enforceable" by a court of law.Often these "turn key" investments are not deals at all as capital reserves and upfront repairs are misrepresented.I equate it to "lipstick on a pig".

This is the description with one of the short sale town home that I am interested in buying in CA Bay Area.

Then he sent an inspector to make sure I was within his description of 90%.

The numbers that cannot be disputed - location, legal description, taxes, quoted insurance costs, construction type, occupation status and current rent.