As I came up with ideas, I emailed them to myself from my phone so I can go over them in the morning with fresh eyes.

Auction.com seems to be a good choice (never bought though, only looks fresh and neat).

Not only am I getting the house at 57% of its appraised value, but the owner is also doing all of the repairs and applying fresh paint before we close.  

He is an investor so we trust his thoughts, as well as what the inspection report reveals....hopefully not much).

I've been looking serously since June, even got as far as a contract on an REO untll the inspection revealed an additional $10K in repairs, for which the bank was not receptive in a lower price.Basically, my vetting of properties includes taking an avg comp at 65-70% of ARV, to determine if taking a look is even worth it.  

Also be wary of letter of intents as they are not legally binding, specifically as there is a current tenant in place, and I'd imagine you likely will not be able to get a signed contract in place from this potential tenant.If the borrower won't reveal who the tenant is, I think that might be red flag enough to turn this down.Just a thought, in Southern California, there are a lot of tenants who are willing to do this in the marijuana industry. 

All of this, in my opinion, will likely reveal why you're not cash flowing.So far, I haven't heard anything that indicates the PM is being nefarious; just opinions without any evidence.

It might be Monday morning coaching, but I bet a review of their application information will reveal a clue or two. 

Hello all!My name is Gaege and my experience with real estate is essentially zero. I've lived in a few houses, so I know what those are. That's about it.I do know that investing is never a surefire bet, but I also kno...

Immediately upgraded the common areas (land scapaing, new hand rails, fresh new paint colors, refaced the storage units with wainscoting, cleaned the garage so people could park easier, etc.)3.