There is a house at a foreclosure auction that has a subordinate security agreement based on the national stabalization program NSP through NACA.

Outside of real estate, I’m a huge sports fan, so you can usually find me glued to almost every game on the weekends.My interest in real estate began as I explored different ways to generate passive income, which ultimately led me to the BiggerPockets community.

So using your words "Lockup" the property but make sure your offer includes due diligence items to protect yourself.

Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

I don't know what the issue is/was, but I think a lot of customers want to play games and he probably did his best to keep them on the straight and narrow. 

This is not uncommon and actual more typical as it is based on sales price and even though the first appraisal was $130k the new one gets reset based on its recent sale and home prices are not up 10% over a few months.You are going to have a hard time getting a lender to use other comps compared to this home as it recently sold.

Purley asset-based lenders are most likely going to be hard money lenders whose rates are typically going to be much higher.

Hi Jack, there's a lot of old stock - I've traveled there and seen it myself, but word is out of Syracuse and it has shown up in various BP "lists" over the past 12 months as well.

If foreclosure is what you want to invest in get a head of the game and focus on a target area and know if that HOA is a pain to work with, you might just find someone who wants to sell quickly to get aways from the HOA.

They will base their DSCR calculation on the market rent 1007.