So, a good deal is a function not of what's there currently, but you seeing something that others don't.

Selling REO is one of the most scrutinized and audited functions/processes a bank has.

Current management team is not functioning effectively. 

Know the law, document everything, and make sure everyone on the team knows how the law applies to their functions and acts accordingly.

Well for the people that are all worked up about damages moving a fridge.....better not let them move a bed....dresser....couch or any other decent sized piece of furniture.... they can ALL damage walls and doorways moving that stuff in/out...... you had better supply all of that and forbid it to be moved...... ridiculous.....If you store it, I would highly recommend you require it to be plugged in... you can leave it on its lowest setting ..... refrig appliance do not like to sit for long periods without functioning...... bad for the components

When it comes to establishing a partnership and creating liability protection I can lay out a "functional" option that works and an "ideal" option that often costs more, but also provides more security.Functionally you can use the current LLC and have an attorney draft up an operational agreement that lines up the desired roles of the partners and how they get paid out.

To really get the best value I would recommend looking for a house that is already "livable" and will not cause you any issues with financing, but has some outdated fixtures and finishes (picture something like a little old lady's house, with green carpeting from the 1970s and old but functional fixtures throughout).

If you have an irrigation system make sure it is functional with no busted heads.  

They shot down the zoning change even though the property had been functioning as a duplex for a long time.

I used my nose and rented to them, they seemed very high functioning people.