but electrical and plumbing in all areas I work require permits.. but if your keeping them as rentals.. then you can probably take on greater risks vis a vi getting red tagged..  

the max minimum bid for a property is determined by the note.. you can lower the credit bid but you cant raise it above what your owed vis a vi note terms and expenses.Any money bid up above what your owed goes to the next in line if their are junior creditors..

The numbers I try to figure are V-I-M-T-U-M:  VACAANCY:  10% deducted from your gross rental income seems like a better, more conservative number to use than the 5% that I used to use, depending on the market we bought in. 

Vi

if there are no city or county rules .. then just read your federal guidelines you can be very picky vs a vi the federal rules for owner occ house hacking.  

Never went after them for money, because:A - Very low chance I would ever get a penny.B - Better to sever any connection to crazy people because who knows what they will do.Very good Joe.. as you state so many folks are getting into this business with max leverage and well 6 months of reserves are simply not enough.. so it puts landlords in panic situation vis a vi collecting their rents.. 

@Marc Reno thanks for replying to post.....but yea i plan on getting crushing it by gary v i listen to him a lot on youtube....I am reading the millionaire real estate agent now this book his very helpful.....but I think im just going to focus on being an agent and add pm to my business a little later down the road....thanks for your advice it helps.

@Vi K.

@Vi K  Thanks for the direction and insight!

Addendum ACOMPILED or AGGREGATE DATA REQUEST CONCERNING THE RELEASE OF ELECTRONIC DATAPursuant to CJD 05-01 Section 4.40: Colorado Judicial Department Public Access PolicyRequested By: ________________________________________Date:___________________Agency/Organization: _________________________________________________________Mailing Address: _____________________________________________________________Telephone Number: ___________________e-mail: __________________________________Data Requested: ______________________________________________________________ ____________________________________________________________________________Intended use of data: ___________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________I have read the Colorado Judicial Department’s Public Access Policy and understand the limitations of this data and the uses of the data.I understand and agree to the following:(i) The Compiled or Aggregate Data will not be sold or otherwise distributed, directly or indirectly, to third parties;(ii) The Compiled or Aggregate Data will not be used, directly or indirectly, to sell a product or service to anindividual or the general public;(iii) There will be no copying or duplication of Compiled or Aggregate Data provided;(iv) Compiled Data will not be made available on the Internet;(v) The data received are current as of the date and time that the data are gathered and are subject to change; and(vi) Recipients of Compiled or Aggregate Data are prohibited from tampering with or modifying reported data.I understand the limitations of this data as it relates to data entry.