So you have a 5 minute quick peek at a 2/1 and have to make a decision on a six-plex without seeing anything else.Now inspection is possible but not guaranteed AFTER an offer has been accepted, but by that time the information you need to make a more informed decision is no longer as useful as before.Which basically forces you to assume the worse in terms of conditions and deferred maintenance in coming up with the offer.

@J Scott I dont think it is worth 200 in the condition it is in either.

I only have $2000 in loss of rental income (+/1500 per month on lease) and I am almost 100% that the unit won't be back to livable conditions until well into March.Do you think the HOA will be responsible for the remaining loss of income without my going to court over it?

Favorable market conditions have probably allowed me to get sloppy or perhaps bad news is lurking about the corner for me.

Just use extra diligence when screening potential tenants and maybe do additional property checks during their lease term.I've got a few rentals that were semi custom specs I couldn't sell when the world fell apart and so far they've remained in excellent condition.

As soon as we hear a tenant plans to move out, we send them a move-out package - including the move-in inspection report, and tell them specifically what they need to do to get the place back to move-in condition in order to receive their security deposit back.

Proof of funds is only used to show cash in the bank.A private money lender should issue you a preapproval letter stating you are preapproved to borrow $xxx,xxx.xx which you would submit with your offer along with proof of your own funds in the bank that will be used for your down payment (assuming you're contributing a portion of your own money).When the lender makes a private money loan, they will typically "fund" the loan into an escrow account or trust account (however it's done in your state) after all loan conditions are met, and it will go directly to the seller.

Can I get a nice property in Austin for around $150000 (or less) 3/2 good condition ( I don't have the means nor resources to rehab then rent given I don't know a soul) SF Bay Area I rock and roll all day long.OK Gents...gosh you have been so gracious...hope to meet in the big A some time real soon!!!!

all major paint company have engineers that you can call for free that will tell you what type of paint to use in low temp. alot of people will tell you not to paint in those condition but that a normal paint they have engineered paint that is made for the cold so check with your paint rep.

The house in mint condition is city assessed at 41,000.