Bought splendid home at sheriff's auction after foreclosure; now (in Oregon, at least) the previous owner has 180 days to redeem the property, paying me (via the Sheriff, I guess) the auction price plus change.  

@Stephen Sawrie,In my opinion, you are 100% right about that.The way I look at it is this - say you have appreciation of 2% (our historic is about 3.5 in this area) and loan pay down of 2% (obviously changes as the loan goes along) and cash flow of about 8%. 

The key is that 2 year work history that you'll need to establish.In certain circumstances you can use the income before you even receive your first paystub (certain relocation and job change scenarios), however typically you'll need to receive atleast 1 paystub to use it.If you have had no work within the last 12 months preceeding this new job then you may need to be on this job for a min of 6 months before you can close on this new loan which would hamper your plans to close within 45 days on this duplex.Then again scenario #3 if you have the credit and the down payment and the property cash flows from conventional underwriting perspective and you have "no credit card debts," on your credit report then you may be able to qualify any way since your debt to income or DTI will be 0% (property cash flows) no debt outstanding to qualify for as the duplex will be adding income to your scenario.I've had an underwriter okay scenario #3 above but have never funded a deal like.

I figure people looking for jobs might need to sell fast, but won't necessarily show up on any of the other lists, thereby decreasing, or eliminating, my competition. 

Since it is our practice to analyse a property using the posted rate - and then obtain a variable rate mortgage 2%+ lower, but set out payments as though we were paying a 5-yr fixed at the posted rate ... it will be not change for us ;-)

All my carpet jobs have been small and either wouldn't have qualified for the specials or hd couldn't get me scheduled fast enough, so I haven't actually used them to know if this is true.

@Alex Zuroff, What you're describing is exactly a reverse exchange with one change - LLC B is formed by your qualified intermediary and owned by your intermediary with you providing financing for the purchase and controlling the property but not owning it or having a membership interest in LLC B.  

They will have the most up to date information and how the laws may change in the near future.

So anyone looking for a title company in this area, Lawyers Title was super fast and super helpful.Now I'm looking for a referral to a probate attorney. 

No idea what the $650 is for.very fast talker and gets upset really easily when you question his service.