Having already analyzed the current market value and ARV, there was still plenty of meat on the bone.One good thing to know with foreclosures, even though the property is being sold in 'as-is' condition, you can still get credits from the bank.

My time used to be spent playing League of Legends a popular online video game but recently I have quit that and funneled that free time into learning more and more about REI. 

I have been investing for about a year now and have developed a criteria and spreadsheet that works for me when analyzing deals.

This property used to be an SFR and was converted into a triplex; it is located in an old but becoming popular SFR neighborhood.

Hi BP'ers! I am just starting and looking for a stable way to retire and take care of my disabled husband in 5-10 yrs. So early this month I've made an offer at full price on this property and doing my due diligence. ...

And know how to analyze the NOI of the comps and the property you are thinking of buying. 

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site.http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

I welcome the opinion of other RE investors who have used HML's and help me analyze whether this is a common offer for a newbie investor as well as how I could possibly make it work? 

I've been analyzing some tax delinquency lists and I've found several properties that have delinquencies longer than two years with the owner still listed as the owner. 

Here in chicago for 2-flats I absolutely make sure I have equity in the building because there are more sales meaning more of them in the market to unquestionably tell me the real value.Every market is different so these assumptions may not hold true for 3-unit buildings in other markets but I know they are extremely popular here in chicago and easily sold even if they have some negative equity.