I don't have much grass so need someone who works frequently in the area. 

When the property is not listed it means it is in contract You did not have to wait for the price drop HUD is done by bids so you can have made your best offer regardless of listing price.Still keep any eye out for the property because they frequently fall out of escrow due to the fact any little buyer mistake HUD will cancel the deal..Zillow is a couple of weeks behind in their information so you should contact the listing agent for status 

Check with your QI as I'd have to imagine they handle this specific question quite frequently.

This frequently is a case of overly optimistic investors looking at a deal from a best case scenario.

According to Gary Keller (The Millionaire Real Estate Investor), learning to save for investments is one of the prime characteristics that separates investors from consumers.The good news is that you have come to this resolution so much sooner than many people.

@Dean HulsingThe rent patterns and characteristics for a residential property (1-4 unit) do not readily, or always, transfer to a multi-unit building, even a small (<30 units) one.When I posted above about questioning whether investing 50K into a 16-unit building in that area is warranted, I'm not certain my message was clearly communicated (based upon your response).You think the improvements would bring gross rents to 110K fulfilling the 2% rule.  

If you've been in CA for any length of time, too, I'm sure that you are well aware of how lawsuit-happy a lot of people are to start with.The state is *so* tenant-friendly that that was one of the big reasons I chose to sell my house there when I left rather than rent it out.I'm not a lawyer but a person who once faced some real issues with a landlord making frequent unauthorized entry, among other things, so I had to learn the law very quickly.

They tend to be very long-term tenants if they don't perform and are frequently interested in buying.  

I worked in sales for 5 years and watched coworkers just make stuff up to answer questions quite frequently.  

In my day job, I am a corporate and securities lawyer and I frequently help real estate developers structure the legal entities they utilize for the investments and also comply with federal and state securities laws in connection with bringing on investors.