Hi - We own 3 vacation rentals in the Adirondack Mts and are looking for more up there as well as in warmer climate - southern east coast and/or caribbean.  

I'm also aware of how the foreclosure process works.My question was if anyone is having success out there right now, with finding properties in this climate considering the foreclosed amounts are usually way higher than what they are worth?

Hi Amy,I'm afraid I can't give you any legal or tax advice, but I just wanted to make sure you are aware of the rent control, tenant protections, and general climate regarding landlords in Berkeley.

((Those terms are seemingly impossible to find in todays current climate with COVID-19))How did you add value to the deal?

In a climate that is cold (Indy).Would you think that 50k in rehabs would suffice for something like this?

Thankfully the last 5 years has not been a complete loss: we’ve paid down the mortgage loan a good amount and between a combination of appreciation and forced appreciation, we’ve got some equity in the property.The economic climate presents some interesting possibilities for us, but I don’t want to pursue something blindly and overleverage myself.Thanks in advance for any feedback you can give me!

@Ty Berry welcome to the south....everything is better here - weather, taxes, political climate to name a few.  

Another thing to consider, and I speak from experience with bank-owned properties in colder climates.  

I'm not sure in this political climate you'd be very likely to get more funds for the poor.  

While there is currently a migration towards the Sun Belt, which is great for real estate there for the time being, they were mentioning that the future migration flow will be climate-induced and the best place in the US will be the Great Lakes Area and the city of Chicago as its main center is already preparing for that.