Yes you can say the property will be brand new and your costs will be less BUT over the life that you own the property you will need to do things to it.If you don't when you sell and suck out all the cash you will take the hit on the resale.

ty pat and ben i know exactly what i must do like a brick falling off and hitting me in head, lol hope all goes well for you

Can I hit you up for some sold comps at some point?

It also isn't really going to help much if the s hits the fan because I'd have to potentially sue to get them to perform.

The area I live in was pretty heavily hit by Hurricane Sandy.

The taxes sound really low for the 6 unit as my father in law lives in Mass. and has a small house there and pays over 5,000 in taxes.Make sure there is not a big rise in taxes or special assessments fixing to hit.

I am told that listing agents get the listings from the banks so they know about foreclosed properties before they hit the MLS so I would like to know the best way to go about finding "listing agents" so that I can have a chance to purchase these properties before the go on the MLS...

I should have reviewed that before I hit reply.

It sounds like you are just about set to hit the ground running.

Some get burned and some hit the jackpot.