Dual agency tends to be unusually common on REO listings in my area.

It's not unusual in my areas to see a $250K refinance in 2007 for a property now worth $100K.

Is this unusual or counterproductive?

I have owned simple houses and a million dollar house, I have rented in Westchester Co NY, Providence RI, Boston MA, Auburn CA, and now Los Angeles.I have lived in renovation 2 times with babies - toddlers, resold at a profit, and never have lost money, but that was prior to 2009.Texas is unusual housing market, where I live in So Cal I believe will lose value, but not slide more than 3% to 7%, if you are away from the water, near the water maybe appreciate slightly.

maybe when inventories are more "normal" and demand isn't spurred on b/c of the unusual circumstances (low mortgage, low inventory, high demand - hedge, small investors, & retail monies), i will be able to see more clearly.

So, when you buy, you want to go in showing an unusually higher rent and a 25% vacancy?

I'd say it's a rather unusual call.I also assume you're trying to stay local so you can oversee the collateral and ease collections and you're not looking for notes in Idaho.In that case, finding local notes is pretty easy, start with the filings at the courthouse then contact the holder.

The trick is in what you mentioned at the end of your post - making it your career.The difference between you and someone who's out to buy something as a sidejob/hobby/potential investment is the hunger and focus.I got my first deal (3 unit "package" in the same block, all from a single seller/realtor so hugely reduced purchase costs on top of the unusually high yield) after "sitting" on several realtors for several weeks, badgering them with daily calls and requests for account numbers to deposit into immediately, as soon as an attractive deal comes up.

I have a somewhat unusual situation.

I have a somewhat unusual situation.