I figured I would wait until about Feb 1 in hopes that the market picks up just a hair to generate some more interest.

Make sure to have a job, business, rental properties or some sort of cash coming in.

Find a cheap, dumpy house that the owner will sell with some sort of owner financing, get a job at Walmart and you're on your way.

The property is rehabbed and looks good, why not have your agent or another agent specializing in rental management take over and do all the work leaving you without the time commitment, just the positive cash flow.I sort of see your agents logic, the foreclosures have torn apart certain areas and have decreased the values of ALL properties there.

Any of them could be all over the place.I'll also say that I think when people say "I'm looking for private money" what they really mean is "I want hard money sort of terms (easy no get, loose credit qualifications, loan on a junker property) but I want lower interest rates, points and fees than I will get from a HML".

This can be a two edge sword of sorts.

Often times a jurisdiction will also require that there be some sort of fraud/unfairness that would occur if the veil is not pierced as well.

This is the very sort of blurring of lines that I believe new legislation in the U.S.A. has strove to clarify there.

Usually these get sorted out, but it takes time.

If it's still titled to the original owner and the ATF, IRS, or other government agency seized it, then you need a good attorney to sort through the possibilities.