This post turned out to be longer than I intended, you’ve been warned :)I joined BP a few months ago, but just recently started really diving into the site and can’t get enough.A little about myself, and where I want to go.I live in San Diego, and was thinking of buying something during the last market crash, but was glad I didn’t since I had no idea about the 1% rule and all the other tips and tricks needed to make sure property cash flowed.

I do inspections all the time for my investor clients at no charge.Eventually if you do enough work with a regular contractor, you could expect the same, until then, be prepared to pay for quality expertise.What I will warn you though is, while many think after just a few walk throughs that they know what to look for.....it takes MANY years to really know all the ins and outs of what is going on.

However, there is no equity with the numbers you stated so you would be putting up thousands of dollars to take over payments on an underwater property which you could never resell..2) Most Gov agencies warn sellers that anyone asking them to sign over title is a scam.

Nor did he warn me that 2 months later a construction company would be demolishing my balcony tile to "repair" issues that do not exist.

And I appreciate the suggestions and the warning of not doing this on my own.

The seller was at the showing and the agent warned me ahead that he was $90,000 FIRM it is what he needed (he bought it at an estate sale), and was flipping.

If you have the gas company do it, I'd for sure give the tenants a warning and tell them they're paying for it if it happens again outside an earthquake.

It's a wonderful resource for ideas and warnings for new investors.I'm relatively young, I think, at 25.

I definitely would have involved a lawyer (as is always recommended) so I don't think I would have gone through with it, but it is nice to know that there are people out there to warn me before doing something stupid and have the whole deal trashed.It appears that investment loans will probably have a higher interest rate than what I anticipated and I will check with the mortgage broker I have been in contact with but I'm guessing that the loan I was thinking of may be for primary residences only and it might not be possible to remove the OOC.That being said, it would not be a huge thing to move across the wall into the other property and rent out our current residence.

I would love to have a "cheat sheet" of what all of the various deeds and other lien language mean.Any other courthouse bidding tips or warnings?