We have reason to believe that the lender is willing to accept less than the published "upset price" but I don't want to "win the auction / bidding" only to discover I won't get the property.

The original question was posed for ideals as to quickly discover a bad PM before losing good tenant.

So far, I have been “monitoring” the REO’s in my area and just want to “jump in” and discover the pit falls on my own.

First off, I have lurked on this site for a while now and have listened to about 20 or so of the BP podcasts since I discovered it and the website about a month ago.

Your exit strategy should be an important component of your business plan, and the exit strategy can often help you decide on the type of entity to use.

. ---- Okay - and to answer your last question, about discovering vacancy rates.

So, just look at the operating expenses, then calculate the useful life of every component in the property, and estimate when you will need to replace it, and make sure you have the ability to come up with the cash when you need it.The thing is unexpected problems are to be expected so stay liquid enough to be able to cover surprises.

I know some of the basics regarding condo community qualifications/questionnaires, but I am hoping to discover more detail about who might do higer LTV % in Florida, and who is most likely to approve me without a co-signer.

Then you discover the rent is lower than you expected.

Any large scale rehabs requires hiring a contractor which in NY is fraught with its own perils.Not only do contractors frequently over-charge (and under deliver), one other obstacle I discovered was that in Brooklyn (which has exploded over the last 10 years) usually the prices are so high that the math with a mortgage and reasonable downpayment (IE: as little as possible) doesnt work...