Observing volume fluctuations in regions, government policy effects, various buyer types, and learning about the most recent financing available has given me an MBA in Real Estate.

10 REASONS FORECLOSURES ARE TOXICThe following observations are based on my own personal experiences with foreclosures over the last three years.  

Also, from my observation and what I have read, San Diego isn't the place to invest with a buy and hold strategy right now.

Your initial offer should have taken into account any items that would have been observable during your walkthrough, as well as any items the seller disclosed in advance.

That extra cost "went away" btw...I'm posting as an observer looking at both sides thinking it's a good lesson for everyone to either carefully choose a VERY trustworthy agent to tend to one's business OOS or meticulously monitor the work being done. 

So, no tax advice here simply observation. 

I found that time and observing helped me feel comfortable with the process and that I wasn't "missing something".  

@Alexis FigueiredoPerfect let's do it then.I suggest we meet on Tuesday May 15th at 7pm at this venue:City Bistrot (on the Rooftop)56 14th St, Hoboken, NJ 07030If that works for you, tag other Hoboken residents who might be interested in joining.

A couple observations about that sales venue:(1) Most of the houses I have observed there have seller‘s reserves.

Features include:Sale by Owner of Record: Only the owner of record may sell a home to an individual who will obtain FHA mortgage insurance for the loan; it may not involve any sale or assignment of the sales contract, a procedure often observed when the homebuyer is determined to have been a victim of predatory practices.Time Restrictions on Re-sales:Re-sales occurring 90 days or less following acquisition will not be eligible for a mortgage to be insured by FHA.