If I hire someone, I have to find one, talk to them, meet them at the property, wait for them to arrive, let them in, and wait till they finish.

Many of the biggest hard money lenders who lent heavily before the crash, are now out of business.

Due to work, life, etc. he ended up renting it out in 2005, 06...when the markets crashed he saw a bunch of people essentially giving away their timeshares at the same location, so he bought them at rock bottom prices.He can sell his "premium" weeks for $4000-5000 each, with annual fees and taxes ranging in the $900-1200 range.

Too many investors got caught with flips or loan collateral that rapidly decreased in value during our RE crash.

Over 15, not so much.Here's how I'm arriving at my numbers using the aforementioned 50% rule which estimates all expenses outside of principle and interest as 50%.

As far as flip projects we took a hit in the crash but nothing like back East, Vegas, Phoenix etc. there are some local deals but its a feedin frenzy banks are waiting up to 2 weeks to look at offers.

You need to get to the point where you can drive by a property, know the area well enough that you can value it basically while driving, know the costs of bring it up to market by walking through, do your due diligence and arrive at an offer.

It eliminates the scent left behind of the bees and reduces the chance of new arrivals in the future.

For a while during the crash I was looking up the histories on new listings and I found so much of this kind of thing I stopped looking at the histories in disgust.

You arrive on the scene as the problem solver and you find a solution to their problem.