There is no experience like doing it, and I encourage you to do so, but don't put yourself in a bind.

When the adjuster went in he said it was the worst he had seen in his 12 years. and I got a big fat check..

I found a 12 unit that I am interested in, but am unsure about running it myself, so I contacted 5 local firms by email, 2 of the big local names included...only one response, and it turns out he's a BP member.Lotsa fat wallets out there...RE must be the place to be, there's so much money coming in that there's no need to answer emails or call anyone back...hmph...

Thanks to a grandfather provision for pre-TCJA mortgages (explained below), this change will mainly affect new buyers (those with post 12/15/17 mortgages).TCJA change for home-equity debt: For 2018-2025, the TCJA generally eliminates the prior-law provision that allowed you to treat interest on up to $100,000 of home-equity debt as deductible qualified residence interest ($50,000 if you used married filing separate status).TCJA grandfather rules for up to $1 million of home-acquisition debt: Under one grandfather rule, the TCJA changes do not affect qualified residence interest deductions on up to $1 million of home-acquisition debt that you took out: (1) before 12/16/17 or (2) under a binding contract that was in effect before 12/16/17, as long as the home purchase closed before 4/1/18.

I'm in escrow on a REO that initially requested (and received) Cash Offers onlyDeal directly with the Listing AgentPut a fat deposit downBeat the Cash Offer by a meaningful amountBe willing to release Financing/Inspection contingencies on a short time-frameBe ready with proof of funds, credit, pre-approvals etcWork with a lender who you know can performSay on top of third party timelines (ordering an appraisal, Prelim, getting loan approval, etc)

what type of contract do i need to bind the property owner to the contract so that they won't issue it to someone else in the process of me trying to seal the deal?

Speaking strictly for the state of CA, Having a real estate license binds you to the ethical standard of fudiciary responsiblity to the client in obtaining the most that you can for the property.

Where you get into a bind is if you are trying to liquidate quickly you could run into a struggle in this part of town.

This part of the LOI is binding upon the seller with the purchase and sale contract.Keeps the seller or listing brokers from being weasels and liars.Sometimes listing brokers say they are splitting 50/50 but they are not.

so correction/stablization good thing.. big ole fat crash I dont see it. and if prices start to drop investors will stop the loss much quicker than what happened in 08 to 2011 is my thought ???