Either way, you should check the terms that govern the purchase and sale of the REO on that website.My understanding is that most lenders and auction website don’t allow contract assignment so if you are a wholesaler, this is an issue.You could double-close but again check the specific terms of the agreements on that website, because there could be restrictions to reselling the property straight away.

Its illegal to enforce these kind of restrictions.

I landed my first couple of deals from skip tracing the returned letters from my mail campaigns.

You negotiate around no restrictions on the cash back or equilivant drop in asking.It will potentially become the primary point of negotiations and distract the buyer from a simple low ball offer (hopefully).

I have a lot of calls from a direct mail campaign.  

I'm going to do a direct mail campaign and am educating myself as much as possible before sending my first batch of letters.Does anyone have any specific podcast recommendations, in which direct mail marketing is discussed?

Good points, we have targeted communities without rental license requirements (like our own community of Hugo) or Eagan (registration only, no fees) and of course we check the HOA rental restrictions before even sending properties for client review.  

I'd find out what the actual restrictions are versus what you intend to do with the property.

Can you pull a list out of the local GIS system and then do a letter writing campaign to all multifamily owners until you can find a deal?  

After you rehab, I would put a weight and breed restriction on tenants with dogs.