If that seems like a lot of work to do before you even look at one property, know that your top competitors are doing that every day.

Done every day.

Those with in-the-field application and everyday use of escrow instrux, in CA and elsewhere.

From my understanding you can put in a new bid everyday, either the same or an increase.

Greetings BP,As I continue to learn everyday about RE investing...a new scenario always seems to pop up.

You can buy real estate every day at below market prices.

If you are eating beans everyday and have nothing to spare, get a position or work that pays better first, RE is not an immediate income producing activity that can be entered into without a dime in your pocket.

This is how they were able to achieve really good cash flow by neglecting items of regular care to a particular standard.So you can either price in 50% from the get go or disregard that and when you sell have a buyer pay much lower because they will be incurring the costs you have put off.I see this everyday where a seller owned for awhile and prices under market a few thousand and hopes they find a buyer that doesn't see all the deferred capex and maintenance hitting them right away in the first few years.I don't care what the seller achieved in cash flow or what they are trying to push.

It is extremely competitive and to really have a decent chance of getting anything you have to be bidding basically everyday on multiple properties.

You don't want to be that guy :) I'd hate wearing a suit and having to shave and look pretty every day :) Just keep it up and you can wear whatever you want and drive whatever you want in a few years :)