So this is a fairly common misconception...... in short, No.The foreclosure process takes a looooooong time.

@Ben SafrenThis is sort of funny.. there are a number of new discussions with this exact same misconception.

A common misconception for real estate investing insurance (residential to commercial) is the new investor can just “take over the old policy,” but can’t happen because that contract is with the prior owner.

I am not an attorney, so consult one first, but there is broad misconception about the protection offered by LLCs on this sub-forum.If you are both the owner and manager of the LLC (i.e.

A huge misconception is people cannot acquire loan low money down unless it is FHA, that is what I thought when I first started.3) You may be discourage of your purchasing power but right now be extremely grateful for the lending rates, money is super cheap right now which will go a long way for you especially looking back many years down the road when rates likely will go up.

There is no HOA because there is only one owner.Corey, clearing up these misconceptions will definitely help you more accurately calculate the cashflow on a property.$300K is a lot of money, no question.

The biggest misconception about real estate is that you can be an introvert and hide behind your properties.Well, maybe if you wanted to stay small forever you can stay in your bubble and talk to to people only when you have to.If you have a big ambition in real estate you're going to have to get over being shy.The hardest part about  analyzing deals is determining market rent and rehab cost.  

The common misconception is that seller carry-back financing and 1031 Exchanges can not be used together and are mutually exclusive.

This along with history of accounts, history of default and delinquency, amount of available credit vs used credit all play into the credit score calculation.One other common misconception, conventional mortgages are not credit score driven.

To a certain extent, I have noticed a little bit of a return to the 2007/2008 group of folks who migrated from origination to distressed loan investments which clouded the water with all sorts of misconceptions and intentions.