Making sure the heating works, the roof does not leak the place can be made secure (doors and windows) are all going to fall on the landlord.

Oh sorry didn’t realize that it was that far, I was thinking it was Flagler in Miami, unfortunately we aren’t doing FaceTime yet, contact Liz & think about starting a meetup in your area.

Heat was shut off due to a past due amount of $35,000 so there was no heat, needless to say i had some broken pipes when i took possession as they weren't discovered on the walk through.

(Wood Stove Heat on one side.)From what I can tell it cash flows 400 and is not in need of immediate repairs.

Click on the "Building Information" button to get, for instance:Residential Building Information Use Code : SINGLE FAMILY Total Rooms : 5 Basement : Full Basement Style : CONVENTIONAL Bedrooms : 3 Grade : C- Stories : 2 Full Baths : 1 Condition : Fair Year Built : 1954 Half Baths : 0 Fireplace(s) : 0 Exterior Finish : Brick Heating : Central Heat Garage : 0 Roof Type : Shingle Cooling : Living Area : 1,334 SqFt Last Update: Thursday, March 24, 2011Other property card "tabs" are General Information, Tax Information, Previous Owners, Image, Comparables, Appeal Status, Maps.

The idea would be a temporary appreciation play when the market heats up and you see the prices start to move up.

Austin is on the leading edge of the recovery and things are heating up quickly here.

There are newer banks opening now or that have in the last few years that have healthy balance sheets with little to no toxic assets.I agree that many of the local and regional banks cannot take the write downs on commercial or they will be insolvent.They might have only funded a few commercial loans that went bad but they were big ones compared to the residential notes they are holding.I disagree that regular sellers won't sell.Core markets have already heated up and have driven cap rates down for A product and A location to just a little above the boom times.The problem is the local to regional banks hold the majority of the commercial distress in tertiary and secondary markets where recovery will be slow and painful over many years.Recovery starts with A assets in major urban city cores and grows outward over time.There are many buyers looking to purchase and to get a standard commercial loan need a performing property with high occupancy.Otherwise they need all cash or a hard money or private partner going in.Restructuring of notes on the pre-foreclosure side with a capital injection is also gaining traction.There are groups that have to deploy capital in a certain time frame who have optimal areas.Once they see they cannot hit the numbers they want in that area they have to adjust the expectations of the investors,return the money,or branch outward to areas that offer greater returns more inline with the investors fund expectations.Regular sellers are selling.Cash buyers want a real low basis.So I am seeing sellers do a wrap or hold a second or other creative means to get a higher price with some down for a buyer.For the buyer it lets them leverage the limited cash they have into a larger deal for upside in the future.Example for a 40 unit with a wrap and all cash investor would demand 13 to 14 going in.

Well, I was looking thru' the websites Trulia and Zilliow in the Miami area initially....The Mutli family there seems very expensive and the SFH are mostly sold vacant.As I was searching, I found Phoenix with sub 300k multi family and the number seems to work...

I went to one in Miami years ago.