There are some lower priced (I understand "cheap" doesn't always mean "value") condos in my area, and after running some numbers, I feel I can rehab and rent them out to cash flow in the low hundreds (after expenses, commons, etc).Anyone have experience in this before?

With the rent covering interest only payments on this kind of loan, I would only have to cover minimal repairs to get units rent ready (prior to getting them occupied if they are not already).

What kind of risk factors would cause a tax deed buyer loses his total amount of tax deed purchase after the tax deed auction sale?

Thanks a lot    Hi Nadiya,What kind of properties are you looking for??

This helps remove emotions and creates a common language for you to understand each other.

Houston should be interesting to follow in the next two years (kind of like Lakeview and other neighborhoods in New Orleans post-Katrina). 

I'm not a lawyer, but what kind of liability do you think you'd have with the pool?  

Unless you need to take everything to the framing and replace plumbing I can't imagine spending that kind of money on a flip bathroom.  

Betting its good old fashioned foundation damage.You will want to have not only an inspector take a look, but you might see if you can find a foundation company or structural engineer to check things out and get you a quote, because most inspectors will just tell you its a foundation issue and not provide any background on the scope.Foundation issues are common in Texas, every house you will come across will have issues to some extent.

Biggest common mistakes are overestimating ARV and underestimating rehab numbers.