This followed after a 2X overflow of a tenant on a first floor that flooded his bathroom using a portable washing machine and flooded the basement apartment.

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. on pre foreclosures on the West coast if you happen to do them legally .. the old owner is due 80% of the profit if you sell within 36 months.. so there is that.. but if your buying pre foreclosure for long term hold and wait out the 36 months then your fine. the reality these days is post GFC lenders/ banks/ servicers have realize that working with the buyer to reinstate recast redo the loans is far better than taking it all the way to foreclosure so your correct its usually the worse houses that make it all the way to the end and go to sale.thats why if you follow NODs  Notice of defaults or whatever they are call in your state. you see so many postponements and or removed or paid off etc.. so you hone in on one property do all this work only to have it not go  to sale  rarely are you going to buy a home that you really want LOL

I have been following Michael Elefante on instagram and have been talking to him and his team as well. 

., concerns over rental history or ability to care for the property, if documented).A good practice is to follow a consistent screening process for all applicants. 

Being a townhouse most of them have CC&R's that you need to ensure you're following. 1) I got started in RE back in 2014 at the age of 20.

But ever morning for the last 2 weeks I see the 10 year T-bill up another 10 basis points or so, and the mortgage market is following suite.

My strategist explained possible implications could be (1) longer initial vacancy (~60 days), and (2) potential for PM team to not perform well (as there was not yet a proven track record of their work with RTR).After much discussion, we pivoted to a townhouse in Dundee, FL.

When my company screens a tenant we use the following:1.

The list of cities that I’ve come up with so far by my own rookie research is the following, but always open to other suggestions from members that have experience else where. 

Add on the myriad of shortages to follow when rebuilding starts, carriers refusing to pay the 240% premium on lumber, which they will and have every time it happens.