Since I will be paying all cash, hopefully that will enable me to get some great deals.  

If you want to perform value add on properties, you will show losses but being a real estate professional enables you to recoup a lot in taxes paid in.

In California there’s a law called the Ellis Act, which enables you to pay the tenant a set amount of money and legally requires them to move out within a set time period.

Now I hv been wholesaling for a couple years now and it has enabled me to stay at home with my two toddlers and still make money.

Frank Gucciardo - I think borrowing from the 401K is a good approach to enable you to go ahead and lock down a property while values are still relatively low.

Insurable title enables a smooth closing when you purchase the foreclosure property; but, it also makes the title defects potential sleeping giants.And, even if the giants never awaken, when you later sell the property your buyer will most likely require that you convey marketable title (which is typically the case).

I plan to schedule a number of interviews with contractors who respond, and would set up the interview on site in order to walk the property with them, generate a sense of competition around price and enable them to provide me with a quote and SOW.Has anybody used this approach?

You should also know your market and the current conditions, this will enable you to properly calculate your exit price and get it.

If I can't get at least 10%, it is not worth doing.This is why calculating y9our cash on cash returns is so very important in my book.When doing so, you may also include the principle pay down as that becomes income to you in the future, and the depreciation tax deductions you get which enables you to keep more of the cash flow in your pocket and less in Uncle Sam's.

It contains a detailed Cash Flow Analysis module which allows for inclusion of the 50% rule and the 2% rule, along with several other modules that enable you to make intelligent investment decisions and store relevant documentation and contact info for each property.