Ideally looking for 3-unit properties around $500k. 

Typically the foreclosing lender will be the amount of the outstanding balance, but they could bid more...for all kinds of different reasons.Go to the sale...see the trustees....talk to them...watch others bid....see what the amounts are...Remember typically there will be no financing......typically you will need cashiers checks on you or go get one nearby by a certain time.  

Just remember that they have a history with the seller and they were the ones that originally employed them so there is no one advocating or working on your behalf... 

I remember thinking how I always felt like I was always a day late on all of the houses that I originally started looking at when I began. 

The last post I remember reading about in the L.A area was also one in East L.A .

It wasn't on BP, I actually can't remember how I found it.

Longer term I am interested in building a portfolio of additional multi family properties and ideally I could see this as something that my wife and I could do full time. 

From what I remember of 4 hour work week he got into the supplement business for passive income.

Also remember that a properly winterized home continues to deteriorate.

I have not made any hard moves yet (after all, need a serious buyer first), but when I do I would ideally leave my day job.