This doesn’t necessarily make it a bad investment, but you should be prepared for the challenges that can come with managing properties in this type of area.

.- Consider hiring professionals like architects, engineers, and construction managers to help with the process.This process can be lengthy and involves several steps, but with the right guidance and preparation, it can be successful.

Another thing be prepared to spend rehab dollars to fix it up for rent or resale after foreclosing.My experience for average tax deed rehab for rent is $5-15K. rent for $900-$1000/month.winning bid amount $14-32K.Rehab cost for sale; cost between $25-92K , sale for $90-250K, winning bid amount $15-60K.

If you have family or friends in the affected regions, urge them to prepare and stay safe.

Without trying to justify the big leap into the game, all partners are fully prepared in all aspects to commit to growing our business and be bound to the by-laws of the corp.

Too many in your shoes focus all of their time and energy on preparing for the liability event and fail to address the items in their day to day business that can actually prevent liability exposure.

Just be prepared for the added challenges that come with the territory.Happy to answer any specific questions you might have!

. - If you don’t get significant movement within the next few weeks, preparing for a rental strategy might be the safest way to avoid holding onto the property through winter at a loss.

I did have two called and we paid them off upon receipt of notice from the mortgage servicer/ credit union in one case.And there are many more gotchas bottom line if you have deep pockets this is fine if an investor thinks this is a no money down I dont need any money this is a disaster waiting to happen.thanks this is very helpful, the deals we would do we are prepared to payoff the 1st. 

My wife is also part ofa LP/GP (where she is the asset manager) that acquired a value-addapartment complex in Houston, where the renovations are now complete, and theGP is in preparations for the refinance.We are currently working on further expanding ourlocal portfolio and are planning out our next larger acquisitions.