You need a seller that has to sell versus one riding a wave of an upmarket wanting to get a premium price.There is the component of you living there.

I've contacted the out-of-state investor several times and asked if he was interested in selling a property I discovered they had a $100k mortgage.

Someone was sloppy of this was just discovered the day before closing.

Hello AllI was surprised to get such great reply's as this is my first visit & discovered this site by a Google search.I am probably over concerned on this issue as I am the only one in the association that is an active participant.

Upon looking up some information on the property I discovered that on Zillow, not sure about the validity, that the property had been foreclosed on within the last week.

This is where you begin to encounter the modern (post war) bloom of new building materials - many of which have since been discovered to be toxic.

That could easily be eating away if you discover an electrical problem, dry rot, infestation, severe mold issue, etc.

It all started from Wall Streeters' discovering the fact that by far the best large hedge fund was managed by Jim Simons, a former professor in math.

Investing out of state is most definitely an endeavor which CAN go well if done correctly; I believe that as Jay said previously, the PM will be your critical component.

Awesome comments - thanks you all... last night we discovered (and should have suspected) the Gas service was shut off due to non-payment, so we also didn't have hot water!!