And, there are always specific local drives, such as new jobs or new transportation, that will drive conditions in very specific areas.

Out of the 50 forclosures I've seen, this was the best condition for a foreclosure.

Before Pierre moved in, someone stole the air conditioning unit from the backyard, and it was only a matter of time before thieves took the copper pipes and wiring, he said."

Also, a bank will not give you a loan for this home if it is not in a livable appraisable condition.

(assuming he found the right deals) This scenario is made in the best of conditions with no mistakes BUT, it's leaving his portfolio with a sound 120-135K in equity, FOUR income producing properties with a monthly mortgage under 1000 bucks.

A property like this, at this price point, and in this condition does not come along often.

It has just 4 billion barrels of oil reserves, compared with Abu Dhabi’s 92.2 billion barrels. ‘Healthy Correction’ Dubai officials say the emirate can weather the storm. “The real estate sector is witnessing a healthy correction,†Mohammed Ali Alabbar, chairman of Emaar Properties PJSC and head of a committee studying the effects of the global credit crisis on Dubai’s economy, said in a Nov. 24 speech. “This is a consequence of global financial conditions and is inherent to the very nature of the market.†Dubai will meet its debt obligations, he said.

Now you have a baseline in the tenants words of the condition of the property... and yes we take pictures of the tenant as they are inspecting the property.

I think you're overly optimistic about your cash flow, but this still looks like a deal.Rent $5600Expenses $2800 (50% rule)NOI $2800Payment $2062 ($310K, 7%, 30 years)Cash Flow $738Cash flow per unit $184That doesn't consider what other units are selling for in the area, or local conditions.

My dog is spoon-fed to avoid any possibility of the condition known as bloat.