I do aggressive land speculation in affordable housing.

In addition, when I close with 50% equity, I don't have to speculate on future appreciation (I've already got a bunch of equity at closing).

I suspect the owners are trying "speculative vacancy", letting it deteriorate (lower taxes) and hoping the location will appreciate over time until a greater fool drops by.

The property is in a very good and popular area of town, although I'm not necessarily interested in buying it in order to speculate on appreciation.  

LA went crazy .. people asking 600k for a money loosing proposition in South LA for a 1b  three-four-plex with GRM of 12-13 ... and get em sold .. either I am not getting something or we are seeing creation of yet another bubble created by wide eyed speculating idiotsPlease, put me on your list of buyers for your wholesaling in SB.Kind Regards,Leonid

The only other 'rescue' on these properties at these prices, is that if you believe you are buying in a good market, and that the values will increase, then you can use these properties to 'speculate' - you may be slightly cash-flow-negative, but if home prices go up 10% or 20% and you are leveraged, that will make up for your negative operating income.

There is no list server for probate, as every municipality performs the process somewhat differently and my guess is that there are certain 'firewalls' on city records that don't allow automated data mining (this is speculative, but Milwaukee uses the 'captcha' enter the number thing).

Spend your time filling the needs of your buyers, not speculating if you can find a buyer.And, if you'r not actually buying and using guru tactics, then you increased the odds of ticking off some owner, especially if it is owner occupied because you failed to market the place.

(If I speculate, the price of the house is estimated to go up 2% by next year so I may be able to come close to breaking even on a sale, but again only on speculation so I'm not counting on it) I should be able to rent it out and break even if I manage the place myself.I know I don't want to invest in Massachusetts long term.

I would check to see if they had a lease signed with the prior landlord, if they did, check the speculations..if it had a no animals clause, there you go..not familiar with MA laws, but in Ca you can give a 3 day notices to cure or quit..which states to get rid of the animals, or vacate the premises..which in short, is the beginning of an eviction..Some can get messy..read up on your local laws..