The good news is that I bought it low enough to rent and cover all expenses plus.

Or worthless to be more accurate.The good news is that if you have fixed rate mortgages, the dollars that you pay in two to three years from now will be cheaper for you.

What is the difference in doing this, verses placing their name on a landlord website reporting they are deadbeats?

:wink: Next you should put together a SWOT reportS=Strengths W=WeaknessesO=OpportunitiesT=ThreatsIf you're honest in the report, it will give you a good idea whether or not it's a good buy.Is the unit currently leased?

http://www.newsday.com/news/local/ny-lilord1009,0,6148701.story :cool:

Again, here is where Realtors can be invaluable, because you will spend less time bringing Realtors up to speed as they already have had extensive training.The good news is that there are plenty of people willing to be bird dogs.

I have my attorney working with the foreclosure company on clearing up all the bad taxes and liens.I am paying $165 the rest of the expenses b/c we have to wait is being paid by the foreclosure company.And yes after I thought about it, I would never show my title report to anyone that I do not know.We were supposed to close today and it won't be another week or two - does this happen a lot with foreclosures?

http://www.fdic.gov/news/news/press/2008/pr08098.htmlMonroe Bank & Trust Acquires All the Deposits of Main Street Bank, Northville, Michigan FOR IMMEDIATE RELEASEOctober 10, 2008 Media Contact:LaJuan Williams-DickersonOffice: [email protected] Main Street Bank, Northville, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named receiver.

Per the seller's addendum (seller is a bank), I can get out of the contract in the event an inspection finds 'material deficiencies' if I provide seller written notification along with inspection reports.

You can also hire a GC as a project manager to do this coordinating for you, he/she is gonna want to see 12 -14% of project revenue as pay.You can find Cost vs Value reports in Remodeler Magazine.