This morning, I got to thinking about the state of being an investor after the catastrophic effects of coming off the “financial orgasm” some experienced during the “flip frenzy.”

Just assume that those with a lot of experience tend to use it and those who are new debate why it makes sense.There is no effective way around the AGI rule.

So I really wanted to move and took it off the market ( he refused to remove the sign or lock box.. a real character ) refinanced taking enough for the move cash to set up our in house business out here and down and expenses on this homeWe had rented, to a jerk, and are looking at another month two full mortgage payments.I really do not want to own property across the country.I am thinking purchase option / rental.

[REMOVED]

I've ran into many that are broken, corroded to the point of needing to be replaced, but I'd say more often than not they are in useable shape.If they do need to be replaced you can break them off the main hub with a hammer, this will break the lead seal loose, removing just the flange collar leaving the 4" hub.

To add to the IRS comments:Check your state's laws on redemption because in some states, once the house is sold at the auction, there is NO redemption period.Also, the IRS legally has 120 days to sieze the property and pay what the house sold at the auction for PLUS 4%.No one is allowed to sell the property for 120 days after the auction.If there is an IRS lien and someone still buys the property, once 120 days has passed, the IRS removes the lien from the property.

If you buy a place that does not cash flow then the snowball effect really runs in reverse.

If there are negatives focus on having them legally removed.

I want to offer a warm BiggerPockets welcome to you as well.As Jon noted, please do not post in Bold (I edited your post to remove it), as it is a bit distracting and difficult to read.

It will be interesting to see what effect, if any, this has on the real estate slowdown. 8)