If you haven't already done so, read the Beginner's Guide to Investing (under the learn tab) along with some of the Podcasts, both will give you some great information.Also, fill out the keyword alerts, upper right (just under the yellow bar) with things like: buy and hold, New Orleans, etc.Have fun, good luck, see you on the forums.

Many investors like different size units in larger buildings because they are easier to fill/market with who is coming in.

It is highly recommended that you spend a few seconds to fill out your profile.

I would be getting cash flow from the units from day 1as all units are already filled.

You can only obtain Conventional financing (Fannie Mae) when it comes to investment properties, and when it comes to foreclosures, they're pretty strict. 7 year wait for Financial Mismanagement and 3 year wait for Extenuating Circumstances (the second one can vary from lender to lender).A deed in Lieu of Foreclosure/Pre-foreclosure Short Sale will have a shorter waiting period (like 3 or 4 years)Another issue would be if she has also filled bankruptcy at the same time of the foreclosure - this would have further delayed the bank from repossessing the home.

Self managing the tenant interface aspect, doing turnovers, and filling vacancies is not nearly as easy or as enjoyable as when we had only a few units.

I commute to Charlotte a lot and fill the time with BP podcasts.

I called the police who arrived around 20 min later and filled out a report, but they expressed concern that the vandals may return and try to enter the units which contain tools and new finishes.  

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

The farm sat vacant for 2 years before we were able to fill it ourselves from CraigsList postings in nearby metro areas (DC & Baltimore--about 2 hours away).Interestingly, the tenant we found was from another rural area in WV who had a unique story and has turned out to be great.