You've already seen what a 25% vacancy on one unit does to your cash flow, and assuming the houses are similar house/similar market you can almost bet you're looking at rent roll backs in future.Assuming youf FMVs are correct I'd be out of these things so fast it'd make your head swim.

I never bought a multi unit apartment complex but if I was you could sure bet I will be doing more investigating on NOI than just a cap rate or 50% or gross rents.

Are the foreclosure sites scatered about the web an efective tool for an investor looking into that market?

The only reason to use Web ads over traditional methods is Web ads don't require any real work on the advertiser's part.

Use the mail, use the web, try another skip tracer to see if they can find more.

Meanwhile, we've got some really high forclosure rates, and giving an owner-financed opportunity for someone to build into property ownership again seems to be a good way to hedge your bet against transient, destructive tenants.Plus, structuring a separate paper deal for a higher interest rate certainly seems like a good play.

I think it’s spelled out on our web site what we do and don’t.

I've always found investing in and developing properties to be interesting, so I want to get some experience as it may be a potential career someday (note: I'm not looking for a position as a real estate agent).I've spent a ridiculous amount of time contacting commercial real estate firms that I found on the web, but I have not gotten a positive response from anyone.

Time more than money.Reading information on the web, buying books after checking them out at the store for free, networking with other investors through REIA meetings and similar.The other variable is your market.

You can see previous bids on their web site.