Next if all is well, you will want to look at the O&E reports to get a better idea of the asset2) what discount should i expect to get 80%-90% UPB?

We can trade on or knowledge of our specisty fields Please feel free to reachout.Don Enrique

Most of the hassle is upfront, since you'll need to execute a note properly and involve an attorney and tax advisor.

Yes, any losses can be carried forward until the time when you can take them...or you sell and those losses can then be used to offset your gains.One thing I would keep in mind, is that lenders may not like to see that loss on schedule E.

Do you want to trade up in the rental "scene" and do a 1031 exchange?  

*shrug*By contrast folks actually residing here, that are here lawfully...Teach them how to hack FICO, they do exactly what they are told.Teach them to season funds, they do exactly what they are told.Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera. 

Hey BP, I've recently made an account (yesterday) and have been reading articles, the e-book that BP is so kind to publish and I've been looking at different real estate deals in my area (San Diego) and I've noticed that although I typically never find properties that do better than 1% rent over price, there are some properties given that the down payment is high enough, that I am able to "beat" so to say, the 50% rule.

When folks headhunt me, I ask for three things.1) Access to their interest rate pricing.2) Put me on the phone with the regional underwriting manager. 3) Put me on the phone with your regional operations manager.4) I'm not interested in talking to you, headhunter/recruiter dude, so go away.I have found that there is absolutely a trade-off.

@Phillip Dwyer -- Thank you, please include me on e-mail reminders if you would.

I've been working probates for a long time and what you need to understand is the basics of the process and the ability to connect with family members and nurture them until they are ready to sell.Since a deceased person cannot transfer title to you now (absent an estate with a properly executed trust in place) the property will need to go through some form of probate.