There will usually be a contractor there that buys 10+ properties, and bidding increases are 100, so you can really just hammer away and go back and forth..obviously with math... the lower the appraised houses are... the bidding "cushion" is only 10-30k.

It's a great time for MF sellers but many markets are overheated at values I wouldn't touch for purchasing.Just make sure your dreams do not get hammered by being over zealous and loading up on big debt at the top of the cycle with a personal guarantee you can't get out of.Focus on high quality areas with good rent growth and a better tenant demographic.

Workman's comp, employee/payroll deductions, etc, etc.Thats where you can get hammered.

You may want to do some more reading here about "private lenders".I don't rain on parades for the fun of it, I'd rather have more constructive conversations, but you need to stay away from a mortgage broker running a pool, while they have a sales pitch for your money, you don't have the security you may think you do and most try to fly under the radar, that's because they are not compliant with federal laws.The broker who ran a pool here had a great spiel and swore he was up on everything, one of his investors had an investigation done, the guy couldn't cover the debts owing, went bankrupt, then the FBI moved in, hammered for everything from selling unregistered securities to mail fraud (he used the mail) and today be will be having his lunch in a federal prison dinning facility.

We called a local pawn shop and they just said to call the police.Among the weird things they took/did not take:They took my 25 year old Craftsman hammer but left my wife's brand new Estwing hammer.They left my brand new table saw but took my 10 year old air compressor.Last night we tried to Gerry rig a temporary security system.  

With that said, I am very handy with a hammer, wrench and paint brush and look forward to getting a little dirty on my first 'fixer'!!!

Since you don't live there you might need to be more stern with that neighbor, don't know if they are friendly or not, but if not, lower the hammer and set the tone for the relationship of being business like as you have a business setting there, bad neighbors can hurt your rentals.

David, yes, the investor partner would be in charge of all the work, not necessarily swinging the hammer, but hiring those to perform the tasks needed and at the vey best price and timeframe possible.Structure: many options, the one I use is my current S corp holds my share and the money partner can hold their share in their entity.

But, if anyone is "qualified" and interested in seeking such business (as you can be paid as approved by the court) you'll need to keep a sharp eye on your reputation and how it may effect other business as you may be lowering the hammer on peers and if they are not found guilty may have long memories.

Foreclosure Moratorium panic, mid-term elections distraction, hammered with mailings, etc - could be a lot of factors.We're also coming into Holiday Season.