If the person is strictly an agent, they are not going to be much help, other than answering the phone when you call the first time.

As an experienced investor who routinely scours craigslist...

Here is a link:http://www.occ.gov/publications/publications-by-type/comptrollers-handbook/ptfa.pdfOriginally posted by revised Protecting Tenants at Foreclosure Act:...The date of a “notice of foreclosure” is defined as the date on which complete titleto a property is transferred to a successor entity or a person as a result of a courtorder or pursuant to provisions in a mortgage, deed of trust, or security deed. ...It's at least 90 days notice to vacate.Unfortunately, as I mentioned in some other thread, it does nothing to protect the buyer at foreclosure - it is strictly meant to be tenant friendly.

Are most of you guys doing 10+ deals a year buying strictly off of the MLS, or do you find most of your deals through non-traditional marketing tactics?

Hey guys,we purchased a 4-plex a year ago, however the tenants did not sign a lease with us rather than they stayed on a month-to-month basis.Since the CA law is very strict about smoke alarms, we just installed new fire alarms/carbon monoxide detectors at all units.

Sarah ShockleyI am a multifamily buyer and always get inspections done and routinely get copies to the bank.

While the closing costs on a smaller loan will be high as a % of your loan amount (since about $1,500 of the closings costs are fixed in their amount--appraisal/credit/bank fees/title search/closing fee/misc),you will recoup this in spread profit in the first year, and then gravy from that point forward).You're probably well aware, but from strictly a loan standpoint, tri's and quad's are a more efficient use of your conventional lending capacity.

I would be surprised if you could fill in the pool for under $5000.You'll probably want to drill many holes in it, then fill it in.If I bought it, I would get solid insurance, a solid lease (but mostly insurance), screen tenants very carefully, hire a pool guy to do routine cleaning, check local pool rules (fences, etc.), and enjoy the extra rent I could get with a swimming pool.

I am usually a strict hard *** when it comes to following the letter of the lease.

Asset lenders, who loan strictly on the value of a property without other considerations are really, hoping for default thinking they get the property and that is not the case either unless the borrower deeds the property to the lender as payment for amounts owing.