Despite the fact we deliberately decided to do the work ourselves we still got bids on the work to use as a reference point. 

Just got back from Town Hall and found out from speaking with the clerk in the Assessors office that the house is in the process of being foreclosed but has not been officially filed by the bank, JP Morgan Chase.Not sure what that means or where that leads?

We put an offer in on a REO property owned by JP Morgan Chase, then we heard back from the bank saying to put in our "best and final offer".  

There are people who will deliberately do nothing during regular time so they can get that overtime pay.  

We put an offer in on a REO property owned by JP Morgan Chase, then we heard back from the bank saying to put in our "best and final offer".

Are the banks holding these REO's deliberately keeping supply artificially low in the hopes that their toxic holdings end up booking some profit?

You've got to take some deliberate steps to get your feet wet.If money is a concern, then put in the hustle.

Our HUD house had a plumbing leak - three deliberate holes drilled in the bottom of a basement pipe, equally spaced one foot apart. 

@Eric Creager I'll play devil's advocate by saying that you *probably* don't need one, unless you plan on using it outside of your own investments or as a future realtor.First, you should deliberately evaluate your goals, strategy, and what will have the most value to you. 

Jokes aside, the partnership may have different treatment for different partners' classes and I deliberately said "may" because it is not by default rather depends on the partnership structure.