After helping other people buying and selling house for a while, he jumped right into the market and bought 3 houses in a short period of time.

I visit periodically to visit my parents and scout properties.

It will take longer to get a tenant in the property than with a non-Sec 8 tenant, because there is about a 2-week period to complete the inspection and the "Rent Reasonableness" check.  

Hi Billy, The BP Podcasts are full of examples of people who survived the latest downturn (2008), and I've always found it interesting to hear the stories of investors from that period.

You'll have a little recapture tax for the depreciation during the rental period though.

The second house was listed on a auction website for a short period of time.Third house also hit a auction site but only for one day. 

The bank will prohibit assignments.The bank will require that you demonstrate that you, personally, have the ability to purchase before they will even look at your offer.The bank will require that the property not be re-sold for some period of time, probably at least 90 days.The bank, and I say this with all due respect, almost certainly has a better idea of the market value of the property than you do.

In CA, since most people now are getting a deficiency judgement waived, the redemption period isn't allowed.

A flip is when you purchase a property, and then turn around and resell it within a short period of time.

These are annual amounts collected over a period of years to cover the replacement of major capital items such as heating and air-conditioning plants and units, electrical systems, roof's, etc.