I think with the auctions going online you don't get the intimidation from the regular sharks who attended the actual auctions but you get much more activity and probably lots from out of towners - especially in a place like swfl - who will bid the properties up

There are many sharks just looking for newbies they can take advantage of!

You can connect it to the existing copper lines with two hot water heater shark bites.

Razor blade is how I just redid the caulk in my bath tub. 

cut pipe at the copper with pipe cutter (looks like a 2 inch by 2inch cutting wheel you keep turning around the pipe and tightening until the pipe is cut), (turn off water first). slam shark bite cap on copper end you cut until you hear it click tight.

Usually once the tenants get wind of a foreclosure the occupancy drops as tenants jump ship to another landlord close by.So usually by the time the bank forecloses and takes over the complex the value has eroded even further.I am not a tax expert but it would seem easier to mitigate a small 1099 versus a large one.Also if it forecloses depending on what type of loan it is they won't be able to get financing for xx numbers of years moving forward.So as you say many things to consider.Sellers are always looking for a totally clean break from a bad situation and it doesn't exist.I tell them you have options and have to try to make the least painful and most in your favor as you can.The bank is trying to get what they want and the seller is trying to get what they want and both have to give to get somewhere.With taxes some are very risk adverse,some test the waters a little,and others swim with the sharks and hope not to get eaten.At the end of the day it's a personal choice for everyone how they conduct business and live with the choices they make.Charles do you have a blog on taxes and planning on BP that you do??

If you take the time to develop the relationships Will talks about, I would think REOs would be a more consistent and dependable source than direct marketing.Good options mentioned by Jon, and i agree with his assessment that once contacts such as mine are developed, they are a more consistent means for product and therefore, you are more profitable.To add, trustee sales are a good resource, just beware: Trustee sales, particularly in large counties where competition is firece (such as Los Angeles and other so cal counties), a beginner could get eaten whole by the sharks that swim in those waters.

As for the 8:30 time slot, you should be careful about knocking on any fore closure seller's door.

NO MEN allowed on the property at all... completely fenced in with razor wire on top.. armed 24 hour guard.. that's the only way you can run those .. and believe me the owner was Very proud of what he had and did.. if your up for that style of management then by all means folks should go for it.but if they think for a minute that this is going to be just hand it to some PM and they are going to handle 200 huds in one building OUCH>. is my experience but again depends where it is.

What happens in recessions is substantially more lawsuits and shark looking for deep pockets.