Hello,I am newly looking into sheriff sales, specifically on the mortgage foreclosure side.

What is anticipated legal costs?

Any one of us could give you our two cents on the math of it, but only you can decide if it makes sense based on what your specific goals are. personally, i paid points on my house because my goal was lowest possible monthly payment.

It appears there are still opportunities to buy good properties in decent areas, though I’m sure it’s important to be very specific about locations.

Owner ended up settling with the tenant, but then we had to threaten to sue our own client to get them to pay our legal fees.- Owner must sign a Hold Harmless to indemnify us against any potential tenant lawsuits relating to the work their contractor is doing.--- Another lawsuit resulted from owner's contractor taking down basement handrail to get supplies down the steps, then they didn't put it back and tenant fell down the stairs.- We also negotiate a reasonable completion date, depending on the Scope Of Work (SOW). --- Who gets all the phone calls and wastes time calming a tenant down because the owner's contractor doesn't show up as scheduled after they took time off from work or a 3 day job takes 3 weeks?

While it may seem like a simple concept, it's actually a very complex process that requires significant documentation as well as specific methodologies.

What specifically are you looking to do?

- we are aware of the statutory requirements, just deciding whether the tax benefits would be worth it to us for the long term for a specific property - 

If you’re unsure about which specific account to choose, ask a local CPA or banker, since every situation can vary.

You can then set it up to where they email you when a house comes on the market that meets your criteria (let's say a multifamily house in a specific zip code that has been sitting for 90+ days) so that you aren't spending a lot of time looking through listings that aren't going to get you anywhere.