Colorado is a great place, but housing around my area is pretty nuts and the rent's don't justify the price, that is what I am struggling a bit with, house hacking works well in an up market, but what about a down market?

It looks like there is some low hanging fruit in the summer months and opportunities to build business in the winter for someone who is a go-getter and wants to break into some niche markets that come to the area for winter sports.

Originally posted by @Samson Hollmérus:@Jim K.I'd love to see the rources to support these thoughts shared here Jim.You've definitively peaked my interest.I'm a space nut from way back.

You folks are nuts. 

generally they have an agent put them in MLS, sometimes "on Hold" if the MLS allows it, tht list price may give you an indication where their reserve is, it seems that the reserve is around 10-20% off the MLS List price. dont get all excited about these, in many cases the seller is looking to break even on their insurance from HUD Fassy or Freddie, so the pricing dosent make sense, i know of one in Auction.com that has a open of $20K and the reserve is around $150K the property is maybe worth $120K after repairs, My rep kinda indicated where I had to be on it, i said they are F'n Nuts. 

But it isn't a 100% on that.Also if they paid of the original and just got a HELOC they would not have those payments taken out but could be leveraged a lot.Also if they are in default on the mortgage the bank might have stopped paying the taxes until they foreclose of get final notice from the city they are going to take the property and then will pay.If you can find an otherwise unencumbered property that is worth $140K with $7K of taxes and the owner will sell to you for that then that is one hell of a score.People do stupid stuff all the time but these people would have to be nuts to not just pay the taxes or list it on MLS for 15-20x that if it is in livable condition.

I have seen these rent ranges for 3bed room houses in the same general area on Rentometer.Am I nuts on this house?

I dont have cameras on my VRs It would drive me nuts.

You have to have a great deal to make decent money.PR I believe is working on rolling out east... yes price points in this area.. for the amount of money and work you put into getting deals working against massive competition  same money and time put into just getting listings.. in the long run probably a lot more fruitful. 

We can't pull the permit without paying this fee so they have everyone by the nuts.