Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Mike TikhRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Scott's book on estimating rehab costs, it's a must read in this area: https://store.biggerpockets.com/products/the-book-on-estimat...In addition to that, I would check out my article on due diligence.

It would rent out pretty easily if you needed to wait for prices to stabilize and more buyers to come back into that area.

https://store.biggerpockets.com/products/start-with-strategy?

How do you plan to finance the acq/rehab and then when it's stabilized?

So will see how that all shakes out for PDX. really the affordable is in Townhouse production by the large production builders thats about as good as it gets..

The E-Myth by Michael Gerber- Start and operate your business with the consumer in mind... not you... not your product or service.

After multiple attempts to stabilize my operations, I was compelled to file for Chapter 11 bankruptcy.

Here are some key considerations:The Tenant Stability MSO Growth: The MSO is expanding westward and has acquired multiple businesses, which suggests growth.