We realize the ARV isn't stellar in relation to what we'd have in it.

It has been stable for years, but the area does not have stellar appreciation.

The liens are actually cleared upon the bank taking the title.Thank you.That leaves it down to Cash & Occupied REO's, or Financed & Vacant REO's :)I assumed the Cash & occuiped come much below the Vacant & Financeable REOs, but the values is about the same.For a difference as little as that,  I feel it's best to only look at Vacant and Financeable REOs - unless a Occupied offers a stellar deal.

Everyone likes numbers so here they are mistakes and all:4/2014 – First purchase Property 1 SFRPrice 40kTaxes 3000 / annualRent 1000Insurance- 2200 /annual - Oops I didn't think to check flood plainscash flow – 100 / monthly on a good month Not a stellar investment by any means but it does cash flow and the home is very easy to manage with few issues...... so far, but I knew I could do better and the only way to do better was to fix this less than perfect investment with more less than perfect investments so I negotiated a deal to purchase 2 homes in a neighboring but run down town.

My properties all are experiencing stellar performance.  

Not sure where your $438 number is coming from.The ROI on this deal is going to be stellar so long as you are making any money, so throw that out as this is a zero down deal.

BTW, I enjoyed your appearance on the Bigger Pockets podcast, a stellar appearance from someone in my area.

We have done a couple properties with this model and in each scenario, the purchase cap rate was not stellar, but you have to look at how much money will it take to get the property operating at peak performance.

The company is called Stellar Realty and Management.

Few can afford that kind of stellar price.Source: San Jose Mercury News