If this doesn't appeal to you, also consider Raleigh, Oklahoma City, Denver, or Pittburgh, all of which also have strong markets.

I had an good employee that made a bad decision.It is always the most trusted employee that have more opportunity to commit theft.

With HUD it depends on many things when purchasing.If for instance the purchase was part of the good teacher,police firefighter etc. with the discount you have to live there so many years period or you will have to repay some money.Also if your buyer bid during the owner occupant only period to get the property and will never move in that is fraudulent.Investors frequently use to do this to not wait until the investor period came.It is a crime to do this now.Some would also say they were living there to get an owner occupant loan with a lower rate.This is committing mortgage fraud.Many do things to ride the line everyday and some get burned and others do not.I wouldn't want to be on the governments radar though.So without knowing the specifics of how the transaction went down it's hard to say.If the title company says 2 years and they do a lot of HUD then I might take that at face value.I have seen HUD go out to properties before,check where mail is sent to for taxes,etc. after they were bought.

I was looking to trade my resources for your knowledge and build a strong professional relationship...

I strongly encourage being as specific as possible about your experience using labels.

I dont recommend doing a CMA that the computer spits out because of too few datapoints.The rest of your plan sounds good and I dont think there is a shortage of houses in your area to keep the plan going.BTW some other options are Trading your property for someone who is having trouble managine small apartments, Exchanging property, O.F. with large down, getting rental commitments but not signed and appeal to commercial buyer, or Lease Option.

My quad's come out to 64,000 a door for 850 to 950 a month in rent on my apartments.I don't look at it only from a cash flow perspective however.The area I have the buildings in is an A location prime for redevelopment down the road.Mike it sounds like your local market is competitive with investors and your margins are thin.On one hand it is good to be in a thriving market where demand is strong because usually supply is lower and the amount of rentals and new development for multifamily cannot meet demand.This helps rents grow at a rate that outpaces utility increases and inflation.The downside is it can make some investors overspend on a property because they feel good about the market.I looked for over 2 years before I bought something.I said many times those buyers were nuts.I tracked the properties and many investment properties after purchase just 1 to 2 years later went into foreclosure.They bought at such a price that it wasn't sustainable.I look for a 10 CAP or better on my purchases.The problem is if you someone who has only gotten 1 percent interest off of a CD or Treasuries or they have gotten beat up in the stock market.Those types of buyers jump up and down to get a 7% annual CAP return beating out your offers everyday of the week.By in large many buyers like this can be lazy.They only look in the MLS for listed properties.Value can be found marketing to sellers that are not on the market.They don't want to make public all of their problems ( I know it is common knowledge of default at some point but this is their mindset ).

If any were financed, did they get commitments from the lender they were using?

There are lots of good deals in my area and it is a strong renter market.

The current rental market here is very strong.