Two weeks layer they accepted our offer price...almost four month later we finally closed last week.Also had one that was listed on the market for about a year,  they accepted 10k below list, we had it under contract for about four month with extension after extension, we finally walked from that one. 

For instance, HOA foreclosures are 6 months for residential and 2 years for tax foreclosures.

In this instance, the rate doesn't matter because there's only one lender that will do the loan.Communications is key.

For instance, there are some markets where it could be a lot easier to find tenants for four houses than for four units in a 4plex (and there are markets where the opposite is true).

Get a PM that triages repairs at least a little over the phone to reduce site visits, carries simple things like caulk and miscellaneous screws with them to reduce trips to the store and knows not to waste time repairing old fluorescent fixtures for instance or charges $150 a month to collect your laundry change.    

In one instance the owner is renting it long term and making a tidy little bit of cash flow each month. 

In this case, I'd recommend extensive screening and background checks. 

(this is a way to keep list price down in most instances) CHECK out FHA 203k loans.

There are some states that offer some valuable benefits such as charging order protection, anonymity and extensive case law for their industry.I think these benefits are more valuable to higher net worth individuals and/or larger entities.There are costs for these complex entity formations.You may want to weigh the costs of these entities versus other forms of asset protection(Insurance).Consult an attorney and an insurance agent.Best of luck.

Properties that are in need of extensive repairs may not be good candidates for flipping, as the costs of repairs could eat into your profit margin.Section 2: Negotiating the Purchase PriceOnce you have identified a potential flip property, the next step is to negotiate a purchase price.