I think they got rocked in FL and the southeast generally are still assessing things.

Aside from educating yourself, the next steps are to honestly assess yourself and see where you best fit into the equation and to build sponsor relationships because these will be very important for you as you start out.If you determine that you're best suited for the "finding money" part, then the content approach is a good way to get your name out there. 

By sending a check, in many states, if the tenant cashes the check they are de facto agreeing with your damage assessment and will have little ground to dispute your accounting.  

The key is to assess your current financial position and goals.

That was the sales pitch that looked attracted to me and here I am 3 months after closing and no tenant, even the numbers looked good, my ROI was going to be decent, but looking at the new tax assessment next year my numbers are going to change a lot, leaving with very little cash flow.

In other words, the cap rate becomes fairly meaningless upon transfer.Your job is to assess whether or not you can make a good profit after buying the asset at whatever the sale price is. 

You really can't assess your risks until you know or are fully aware of who the seller is.I'm not writing a book here, just trying to beat the word count in Dion's posts. 

(Inspectors are generalists, so specialists are essential for plumbing and electrical issues in older homes.)Structural Concerns: If potential structural damage is spotted, hire an engineer to assess it properly.Be Diligent and Proactive: Old homes often require extra due diligence.

Follow and analyze their offerings for a year and then assess whether to move forward. 

Condos can be tough to cash flow due to high HOA fees...and special assessments.