I personally would not do a deal like that, as my return is reduced dramatically and my cushion is absent.The income vs. value approach you mentioned is not only valid, but the exact reason for the dramatic bubble burst here in CA.

Approach is the key to the market right now, and either your realtor is lazy or sucks at his/her job.

Heard of Security Real Estate Services (aka Fairfield)...but before you approach them, do read about what they were alleged to have done in the Le Jardin development...

Being prepared is a good thing and considering where I live we tend to get ice storms in the winter, I do tend to stock up a bit as winter approaches.

Thomas Lucier's books have many included contracts for affordable prices.Foreclosure overview books by Peter Conti and David have won New York Times bestseller awards, and provide great information about the process and also give you scripts so you know how to approach homeowners.Hope that helps.

Its a graph from Credit Sussie.http://bubbleinfo.squarespace.com/journal/2008/6/7/neg-am-reset-update.htmlYou can see one peak of Neg Am loans approaching by the end of this year but then a bigger peak in Oct.This is just with one company, but you can imagine the peaks are similar throughout the entire industry.Most were 3 -5 year adjustment periods.So if a good portion of these loans were done 04-07 the wrath is really just begining for foreclosures.Unless the government steps in and works out rates and reduces prinsicpals.

I'm not going to tell you or your brother what to do, just know that approaching anyhing - including relationships - from an attitude of "scarcity" is going to hurt you.Tim

There simply is no cookie cutter approach," cautions Dorkin.

Now most of Gainesville is covered in these cheaply built massive apartment buildings with the problems that Tom brought up.

(I'm cautiously optimistic that it would approach the higher end.)The wide range is because I don't know how to account for the enclosed garage.