A client of mine just bought a property property 2 blocks from UNR. 2bd/1ba.

I've already tried direct marketing and sent over 1000 letters to home owners. 

Instead of receiving cash, you are sent the asset and a re-assignment letter so you can title the asset into your own name.

You are still required to send them a disposition letter detailing the charges to them and how you applied the SD. 

That means having your mortgage financing all set with a pre-approval (not pre-qualified) letter in hand and verification of your funds.

If none of this is specified in your lease and you haven't communicated via text before, then be safe and send a letter to the tenant

Purchase price: $3,400 Cash invested: $5,400 Sale price: $18,000 After some research on the neighborhood and sending out hand written letters to property owners, I purchased a vacant parcel in a neighborhood on the brink of redevelopment.

Two blocks from the beach in the Florida Panhandle.  

The key is to get something on paper and use this as a building block once you hire a manager.

I've filed a insurance claim and have sent my tenants texts, emails and certified letter that the house is potentially unsafe and they need to vacate the property until I can get repairs done.