I've sold some properties that were perfectly good properties but be too far away, or too old, or too low return or too something else.

A foreclosure can be caused by many event, including buying at the top of the market and realizing your way underwater.I tell everyone before screening I'm not looking for perfect credit, if they had perfect credit they would be buying, but I'm looking for people that pay their bills on time, maybe have had a hickup or two, but generally pay everything they owe every month.If someone has something very serious on thier credit, they normally tell me then and save us both the hassle of declining them.

The same way they could have perfect credit and a terrible rental history.Also side note about doing your own rental check.

Just keep in mind that we're not dealing in illegal products but simply need to manipulate our delivery.In regards to the delivery, my method is similar to what Bill suggested in that the mobile home is a rental until the last payment is made at which point I agree to give the title to the tenant-buyer due to the ending of the useful life of the mobile home.This is far from being a perfect strategy, but it's working for me right now and I'll adapt when necessary.

I've found that 3/3s are rare, but they are perfect for this.  

Just be aware that you are likely perfectly capable of finding cash flow positive deals that are in decent shape without a turnkey company having fixed it up for you.I grew up in Riverside, but I don't know if there numbers there still make sense, or if they have ridden the coattails of the rest of CA upwards to the point of not being cash flow positive.

For example, maybe in a perfect year a property will work out to an 8 cap but then if a boiler or chiller or whatever dies (again not familiar with the inner workings yet) we could be out $50k.

Nothing better than perfect practice to make perfect.

Quite a few investors have been sending us properties that would either never stay rented for them or never cashflowed and we've turned them around with the model It's not the easiest thing to do and we've been doing it for years now.The interesting thing is that I swore off real estate investing (like most of us) in 2009 but realized that with our turn-key approach & the shared housing model, we have the perfect recipe for getting back into investing.

This is certainly a great community and it is also a perfect place to learn more about REI.