The one thing you have to remember about cold calling is The worst thing they can say in no! 

That's the worst.

@Ian McDonaldI JUST posted this in another topic:I think one of the most common and yet biggest mistake people make is that they rent out their personal residence after they've lived in it.

Everything and anything will require multiple phone calls, mistakes from contractors, clarifications, etc.  

Seller is asking $750.00UPB: $41,485Original balance: 47,700 originated on 2/4/02Interest: 8%Mo pmt $350.01Delinquent tax $1,102BPO: $16,900If I was to purchase this note and worst case scenario is that I foreclose I was thinking I would have about $6,000 wrapped up into this deal (750 note purchase, 1102 taxes, 5,000 foreclosure cost) with out any repairs to it.  

I highly recommend sitting down with a real estate attorney before you get going on this strategy as he/she can save you from making some costly mistakes.

Don't make that mistake again!

Maybe first off, check your existing portfolio to see which property already has the most equity and/or worst rent return ratio, and flip THAT one?

Hello all,I have a tenant that I started the eviction process with and I would like to know if anyone has dealt with a similar situation.My first mistake was letting the tenant move in without paying all the money upfront.

There are undoubtedly mortgages on the property and you essentially took responsibility of the senior mortgage.You made a mistake in this instance but you still have choices.How much did you pay at the auction?