For example, my husband and I would never even consider the property you are looking at because that does not fit our criteria because of the age of the home.

Interestingly, there have been several BPO's done, with walk through and everything, and the highest, and most recent value came in at ~580K.The failed Short Sale was actually approved by the servicer for $480K.I suspect this has to do with the Non-Performing status of the mortgage, my mother's age, and Massachusetts being a tenant/occupant friendly state.I had to terminate the arrangement of this Short Sale when I finally acquired unbiased legal/realty counsel, and realized that the sizable return (700K - 475K = 225K) would not only be an act of fraud for us to receive, but that the buyer was likely misleading us into thinking we would get this money.Since then, I really started doing my research, and am very interested in pursuing Real Estate Investing thanks to all of the hard lessons I've learned.I organized an off market pool of cash investors, and showed the house and took offers. 

It did not need many renovations as it is in a relatively new building, I will put in 15k at most to upgrade kitchen by adding an island and do minor touch ups.

@Jamaal Johnson  realtor is actually  related  of the sellers.  

I would suggest age 50 or 60-89, 20+ year ownership, single family home and specify a home value range.You can also specify Low Financial Stability Scores to find people who are more likely to be motivated sellers.

I've been using these, they're relatively cheap, good quality and dress up even mediocre cabinetry well.cabinet pulls

@Karen Higgins I sent you a message but have to run - will send you a separate one related to these questions in a bit.

If you have any investing or insurance related questions you can shoot me a pm anytime.

I am a relatively new RE investor getting ready to close on a 3 bed/2 bath in Westerville a suburb of Columbus, OH.

@Marcel Acero Would be happy to answer questions relating to multifamily and comparing it to single family rentals.