Our targeted markets are 2 blocks around SJSU and 1 block radius around Japantown.

I was feeling like maybe better deals are all off market and I wrote a couple "yellow letters" to word of mouth prospects (a friend knows a guy that knows a guy that owns this property that they may want to sell). and got a call back yesterday on one - I joked with my kids that I have a 50% response rate - 2 letters sent with one call back!

My question is, if the uninhabitable classification is removed but the boards still are up, will I be able to get a conventional loan on it provided everything else is ok or will the appraiser block the purchase solely based on the house being boarded up?

@Scott Heiman a couple of thoughts. 1) to "mention" someone, type the @ symbol and then the first three letters of their name.

Even more obvious when a real name Google search lands on this post.Your other angle of buying an investment and later trying for FTHB on your primary is a great idea and one you should check with a tax pro on (ie, not HR Block).If you can use the plan, then start cramming every dollar you have into an RRSP so you can use that money tax-free come time.

Typically I just send the letter and wait for a response.

Once I made note of how much it would cost to run the properties properly, and that the seller's terms are high, the third party told me that the seller would now be willing to throw in the third property for the price of the two I was analyzing.Great, already showing some eagerness to drop his properties (same owner for over 20 years and definitely not maintaining)They asked me to start with a letter of intent to see where I'm at for terms, and we can work from there, he said the seller may agree to 850k-950k (which I still don't think it's worth it, unless if it was maybe south beach and rents were 2200-2500!)

Then we paint everything with Kilz to block any remaining odor.

Based on what you've provided, I would go there to collect the rent and I would simultaneously hand the tenant a letter asking them to leave.

I would like to know should I still send these property owners a yellow letter even though their taxes were just paid.