My classic response is that if they thought they were getting a new construction home, they should have offered me double or triple what they did as our number to negotiate off of.

It sounds like a great deal IF...IF the comps are correctIF the rehab numbers are correctIF the property isn't condemnedIF there are not title problemsIF it's a legal duplexIF a triple murder didn't occur recently in the houseIF the city isn't seizing the house as a drughouseIF the largest employer in town isn't getting ready to close their doorsIF the house isn't located next to the city dumpIF the house isn't in the middle of ganglandIf there aren't a million other distressed houses in the area for half the priceI would not buy a property sight unseen.

The mortgage was super cheap and the rents we were going to collect was pretty much triple the amount of the mortgage and taxes etc.

Be sure to triple check your numbers to ensure you can get by if the property does not rent out immediately.Where there's a will, there's a way- good luck!

Just wait, it will get cheaper, then buy it and lease it to the organization running the halfway house call them first, they are probably a non-profit so you could do a triple net lease.

I can also seek triple the damages in civil court.

I personally am not a big fan of multifamily, duplex, triples, apartments and the like, but do have interest in possibly trading my best SFRs for 5 unit office warehouse or retail strip in Forsyth County for better yield and passive income.

Many states impose severe penalties, like if the tenant goes to bank with receipt to make sure the full amount is still in deposit, if it is not the tenant is entitled by law to recover via court order, double or triple the full amount plus attorney and court fees!

An upside down, out-of-state condo is a triple whammy.  30035 doesn't have a great near term outlook so it's not going to be worth $100k again in a decade.  

If it were true, why did home prices in California tripled in value from 1970 - 1980 while interest rate went from 7% to 18%.