As to terms and conditions, you'll negotiate the various conditions you normally would with a seller, such as earnest money amount, closing dates, due diligence dates and any other special conditions.Most real estate attorney have addendums to standard P&S contracts, namely, the contract is not assignable, and is the first item on their addendum, otherwise standard contracts is assignable by default.

I verify the work is done to my standards before I cut the check.Trust, but verify!

Is there any way to discover whether the occupants in a foreclosure auction property are the owner or renters of said property?

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

After doing this for 20 years, I have found that the 1031 rule is a potent tool for real estate investment professionals for several reasons.First, deferring taxes means you can keep growing and diversifying your portfolio a lot more quickly than if you had to pay standard tax rates on every transaction.

If you buy in a location where prices and rents are increasing below the inflation rate, your only option will be to decrease your standard of living over time.

Consistency and networking are key but I'm actively looking to discover different creative methods to attaining success in the business.

@Jose Alberto Serrato A 203k loan would be a great option as long as the property is deemed still liveable by their standards.

It may imply that I am either not confident in my abilities OR my clients will get sub-standard service with the lower rates.

I didn’t do the deal or other things that look like a deal but you can tell there is moisture in the walls that will increase the rehab by 50K and take a good deal to a waste of time or a big loss if under capitalized and not discovered in time.