FMR Year Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-BedroomFY 2000 $456 $553 $649 $871 $1,027FY 2001 $530 $643 $755 $1,013 $1,195FY 2002 $545 $662 $777 $1,042 $1,230FY 2003 $559 $678 $796 $1,069 $1,260FY 2004 $561 $680 $799 $1,073 $1,264FY 2005 Revised Final $574 $701 $779 $995 $1,076 Final FY 2006 FMR $655 $734 $817 $1,027 $1,064Final FY 2007 FMR $682 $764 $850 $1,068 $1,107Final FY 2008 FMR $639 $717 $797 $1,002 $1,038Final FY 2009 FMR $638 $715 $795 $999 $1,035Final FY 2010 FMR $687 $770 $856 $1,076 $1,115Final FY 2011 FMR $695 $779 $867 $1,090 $1,129So in our area the concept that the OP presented that "...I am picking up properties for less than I was a decade ago" means that everything else being equal your rental margins should be a lot better.

OP, Jon is right though, banks don't really make any money with the smaller loans.

I think, in the context of this post, is that the title is wrong or the Forum is wrong, since the OP wants to know the Best REO Lisitng Site.

:oP I also learned that sometimes there is nothing you can do to stop water from getting into the house.

I know the op didn't cash their retirement but would someone go out and pay 30% penalty & tax on money to throw it all in re?

It depends on how you view it.I agree with J Scott and I am sure others will disagree with me and him as well.I also believe these costs wouldn't be an issue if the are accounted for before the purchase.In other words run the worst case scenario and if that doesn't happen then you are better off than you thought.It also depends on the potential "book of business" you will be getting from the relationship.If this is a big seller who has a large portfolio of properties selling in the millions of dollars than that is different from an investor selling an occasional 50,000 flip.If I am a broker/agent playing in that range I need to make every little cent and as a broker/agent someone cutting me on every deal will be a turn off to do future business with them.I just think you will burn more bridges than you build.For everyone's information the REO companies are some of the nastiest unethical companies out there and treat brokers/agents like slaves.Everything from a 2% co-op to paying off the net to belonging to 10 organizations charging hundreds of dollars each a year to paying for computer platforms,etc.I could go on forever but many seasoned REO brokers have left that side of the business.For the investor the investment makes sense based on the return but not for the broker/agent.

In a standard listing agreement, a commission would be due if the property were rented, as opposed to bought, AND if a lessee buys it, a commission would be due.In the OP #3 I assume you meant to say "...allow him to Lease said house".

Additional note on MileIQ:  It's been sometime since I tried it, but at that time it was very U.S.A. centric {not a problem for the OP} and not terrible useful for those of us elsewhere.  

Mortgage Rate 5.00% Length of Mortgage in years 30 Monthly Mortgage payment $724.71 Taxes $ 180.25 Sewer and Water (paid by tenant) $ - Trash (paid by tenant) $ - Heat/Utilities (paid by tenant) $ - HOA (paid by tenant) $ - Cap Ex and Ops $ 200.00 Insurance $ 125.00 Mgmt Fee $ 170.00 Vacancy $ 136.00 Total Expenses $1,535.96 Unit 1 $ 1,700.00 Total Revenue $ 1,700.00   Cashflow/month $ 164.04 Cashflow/year $ 1,968.49 Cash on Cash Return 3.90%

OP said they told him it would take a few months to close... not to obtain approval.Very odd.