I always seem to get posts removed when I offer info on this forum as they take it as spam.

Do you usually remove the vacancy rate from your calculations for a single family?

Ok lots of miss information on this post as this is a CA foreclosure  not a Judicial sale like FLA or other states.1. if the first goes to sale with that equity position any money bid past the opening bid by the first will go to the second automatically.. there is no law suit in CA trustee sales its power of sale.2. the second once the foreclosure occurs both liens are removed.... from the property the second though does have the right to then sue on the note for a deficiency.. ( however Extremely rare on the west coast but it does happen).. but that just goes to the borrower not the property.3. if its a purchase money first thats being foreclosed no deficiency judgement is allowed.. its not like Texas were you can foreclose and get a judgement.  

You cant remove a contingency on this wihout full disclosure...IMO.

Below is a breakdown of the current financialsGross Rent (me living there - 3 of 4 rented): $4,750Gross Rent (without me living there): $6,600Purchase Price: $372KRehab: $144KTotal (Purchase + Rehab): $516KAround 1 year later, I decided to refinance the property based on the new appraised value, and remove the PMI (1.1% - roughly $500/month).I am now on the search for a another property at the beach (single or multifamily), or other well located areas of Jacksonville, that have value add opportunities.  

It looks like you pasted the marketing copy of a guru slide deck, removed all punctuation, and the scrunched it together:) I hope you put a bit more effort next time into your writing so that you have a greater chance for others to easily follow your coherent arguments. 

If you're dealing with middle class family rentals I would do things that are necessary:Remove any carpet in bathrooms, Remove any dirty carpet and replace with tile or laminate.  

That section with need to get removed and patched.Anyone know a good plumber?

If you find they request the removal of the pet fee, you'll have to do your due diligence on checking up on it.  

The problem now is not crazy demand due to loose lending, it is low supply due to no building.