But I also understand some people don’t really care about the cash flow as much as the security of not having to worry about a vacancy or whatever.

I’ll take care of buyer commission.  

Pros - guaranteed rent, tenants stay longer on averageCons - more mgmt needed (lease violations), they tend to not take great care of properties (increase maintenance expense or deferred maintenance)

I would also be careful talking to property managers - they may have no problem telling about "other" buildings, but change of ownership in their own building is a threat to their livelihood.

-- We focus on verifying 2-year work history and verifying rent payments with last 2 landlords (unless in same property for 5+ years).3) MoveIn Specials: be careful with offering "free rent" as will just attract tenants with no cash.-- Try free TV or something else worth 25-50% of one month of rent.-- Or, what we do is offer the free rent AFTER & ONLY if they pay their first 3 months of rent on time to earn it.4) Lower the rent 5% every 2-4 weeks until activity picks up.5) Understand this is the worst time of year to find tenants.-- Starts picking back up end of February when this tenant pool starts getting their income tax refunds and aren't broke anymore.6) Section 8: where is the property being advertised?

Be careful with flood zone properties.

Now, if you listen carefully you will find that he too found some of the same things that others mentioned...no deals in Austin, prices were too high...but then he adjusted his approach and nailed it!

I'll be honest with you, in my experience, I have never seen a Investor care typically about the existing financing, or what was owed on the property.

People who get evicted could care less about a judgement or the collection process. 

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