Also, if dealing with just the owner, how do I go about doing a title search for O&E, taxes, liens etc and making it contingent, would there be an escrow we can go through?

@Luka Milicevic and @Reid Chauvin, certainly cities got busted in the last round of real estate boom, such as Phoenix and Las Vegas — I personally knew a friend investing in one of that cities and got burnt severely.could you please provide some analysis about Nashville area’s local fundamentals (and I am interested in how different this time is it in Nashville)?

@E.

People want to sell, other people want to buy but the numbers don't work.When 8% was a normal rate, there were plenty of transactions and we had a smaller population.Something is fundamentally wrong with the overall economy. 

Quote from @Scott E.: I haven't been active on here for years but just getting back into it.

@Scott E. love the breakdown!

Bigger Pockets is a great forum, but I do think that some people get really excited from listening and rush into buying without really understanding the fundamentals of how to do it.

Quote from @Scott E.: It depends.

If your portfolio lender issues you a form 1098 then your CPA will put the mortgage interest from your investment homes on line 12 of your Schedule E.

you see one of these types of e mails its a phony  you will get taken and some get taken for big bucks..