That's too many people for that size house.

@Michael SmithBrianna is exactly right - RT4 allows for more units, but I bet at least one is illegal.

BUT you have to have access to quiet money or bank loans... there is hard money for this but your returns will go down to 20% or so if you borrow at too high a rate.I bet you can do this in CA pretty easy to doing infill in the more popular towns. and metro areas.

I know of several HOA's in CA who have negotiated discounted payoffs of past-due balances & liens after 1+ year of non-payment.I think part of this depends on the size of the HOA, and honestly, whoever is the "dominant" member on the Board, coupled with the influence exerted by the professional property manager (this is all often influenced by the number of units under the HOA.)

Second you can pay a search company to find out all the details you need to know, but this is limited to a certain % of accuracy and option 1 is your best bet.

I would say that your best bet for becoming an REO agent is to create a good relationships with an Asset Manager.

I definetly want to live there, the house is twice the size of my condo!

I guess I'm a new investor in personal happiness until I get back next year. btw, a little off-topic here, but the RE here is like San Francisco in price and half the size.

If you take a second to think about it, I bet that a joint effort of all BP members could have raised the funds to buy Bear Stearns.

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