The rules and exclusions on bankruptcy are usually identical to the rules involving asset protection. 

Here are a few for the list that come to mind:-Failure to check that Broker’s representation of nature and condition of collateral is correct;-Failure to catch that Borrower is substantially overpaying for property;-Failure to verify that Borrower statement of business purpose of loan is inaccurate (loan in reality is for personal, household or family purposes) making loan subject to consumer protection laws and disclosure;-Failure to verify that insurance is sufficient and the type of policy that covers lender as insured for loss; or policy lapses after funding and servicer does not catch it;-Failure to verify that broker or arranger is properly licensed such that lender exemption from usury is invalidated;-Failure to monitor and require borrower to keep property taxes current;-Title company e-mail gets “hacked” and you wire funds based on fraudulent e-mail-Not understanding the limitations on your options and problems that come up with "fractional" (multi-lender) loans when they go into default-And here is one for the books that actually happened:: arranger comes into possession of notary stamp and commits identity theft by convincing lender, brokers, escrow and title that she is the person who’s identity has been stolen.

As to some of the questions; 1) I live in the same area now, and do feel confident on the sale price range 2) The seller and I are going to go over his numbers from almost identical houses in the same area in the next few days - I will also verify these with the subs I would be using to make sure of things. 3) I did include all utilities, dumpster, interest etc... in the holding cost - that is one area that I goofed up on the rehab of a rental while we were getting it ready - you tend to remember those things :) As to why would he want to sell so cheaply.....

As an investor, you look at these critical factors and also weigh in things like no rent control in the area, business owners and tenants who cannot afford areas they work in like Santa Monica and Venice having to seek out other areas close in proximity to the ocean, and most signs point to what could be a great launch pad for a city that is well overdue for a new identity. 

An agent in my office had shown some houses to a convicted rapist, and only learned of his identity when the police contacted the broker, luckily prior to her showing him vacant homes he asked to see!

We have two identical couches and a coffee table. 

By the way I respect and admire @Ben Leybovich so much, solely on the fact that he looks identically like my high school English teacher.

It works both ways.If you had a bad experience with contractors, well it was probably your own fault by not being upfront with scope of work, payment terms, how change orders are handled, or trying to use the absolute cheapest price you could to maximize your profit.agree to disagree. i have dealt with contractors of all varieties (big companies, small individuals, licensed, not licensed, expensive, cheap, know it alls, wants me teach them how to do things) and only a couple universal truths have emerged in that time. 1. the construction materials are identical between all of them 2. they all need constant babysitting or something will be done in an inappropriate manner.

., and I don't know, so I'll take a look to see.I still don't get how an identical property next door that's fully occupied keeps getting $14 bills.

The goal is to have leads identical to this one x5 EVERY month.