@Glen Wiley actually in your case I am going down $100.My current rent is $2400 and they asking for $2200

I am currently in Southern California (San Bernardino and Riverside Counties) and I'm looking for advice from anyone in the SoCal that has experience in dealing with Pre-Forclosure properties.

Definitely agree with Glen, focus on your strategy and narrow down the final details. 

I appreciate all the great counsel from your experiences @Shan Radhakr, @Khalid Bryan, @Glen Wiley, @Travis Biziorek, @Michael K Gallagher and @Evan Polaski.

I put up a long post that covers my experience https://www.biggerpockets.com/forums/12/topics/1171104-the-m...Per that post I would agree with @Glen Wiley.

Hello, I'm based out of Richmond and live in Glen Allen, VA.

Hi Glen, I’m not in Maine but just across the border in NH.

Quote from @Glen Wiley: You can still take depreciation, the deduction is deferred until you can use it in a later tax year.The most effective way to fix this is to get your spouse to qualify as a real estate investor per the IRS.

But if not, they are pretty quick in the OC, less so in Riverside, and forget about it in LA. 

you will want Handyman insurance, and as @Glen Morrow stated, you will not be allowed to pull permits, per state law, you would need a contractors license to pull permits, and technically to do work on a 1-2 family dwelling. to get the license you need to complete a 12 hour training, and pass a test, and have appropriate insurance, Quite expensive insurance at that.