Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I was caught in a probate case on a note I owned where the subject property was located in Dallas.  

Assessing how critical this location is to their expansion plans is essential.The Investment Considerations Lease Expiry: With five years left on the lease, your strategy should account for potential vacancy risk.

Location/ Equity How did you find this deal and how did you negotiate it?

At $377K/door, this building's costs will be nearly 2X what a similar building would trade for in this location.  

But things out west also are a moving target on the best of days.haha, indeed, the crazy west in both CA (my property location) and WA (my residence)One more question on LLCs. 

You can do this with a simple, one-page addendum, or even a written statement added to the existing lease and signed by you and the tenant.Example:This lease agreement is hereby amended to reflect the change in ownership of the rental property located at 123 Straight Street, Cody, WY 82414.

I've had very few vacancies over the last few years since Covid, tenants have been staying put where they are located.

@Rud SevCap rates in NNN deals are influenced by factors like tenant quality, lease terms, location, and lease structure.

If the location is an A but the tenant paying higher rent was a B or a C then replacing the location with an A tenant at slightly less rent in some cases you can actually increase the value.Example if you had an (A) location QSR but tenant was Burger King franchisee and they went out the Burger King might sell at 7 cap.