And many investors, both local and remote, are finding properties with decent revenue returns and/or cash flow.

Team Up with a Good Agent: A solid local agent can help you navigate the ins and outs of multifamily properties.

There are plenty of CASH COW properties out there tho. 

We run into a lot more break ins in our Cleveland properties than we do with our Lorain properties.

They essentially give you all properties in an area, and you can skip trace and call the homeowners.

Here’s my thinking so far: the property’s been on the market for over a year, and I know they had an offer for $500K.

Yes, you can ultimately own a property with little/nothing out of pocket when you're done - but when you reposition with today's rates even moderately leveraged stabilized assets can be hard to find cashflow with debt service and a realistic operating expense load.

Analyze the property's income potential and expenses and see how it shakes out while you live there and when you eventually move out. 

Has anyone here participated in the Wayne County Treasurer's Auction of Tax-Foreclosed Properties?

I’m curious if you have purchased any properties and what your experience has been.