Some folks on the site (Memphis-based, I think) were recently advocating that you shouldn't supply appliances.

His number is Cell: [REMOVED]Office: [REMOVED]I think that covers your questions.

It's a pretty unique house and is zoned for offices as well, so I'm hoping the right live/work professional will come along and want it.

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 ).

Mind you, I pull up the clerks office, registrar, recorder and look at all the transactions concerning the property.

The rental unit is about 20 minutes form my house and about an hour from my office.

All they were doing, building reserve campaigns, new reo offices and administrative structure, it all alluded to a swap program, build xyz reserve, dump xyz reo's.

There is still much supply and competition with cheap money, so I expect a lower cost basis to negatively impact rental rates.The middle-class is also in a transition, but has been in higher demand recently probably due to post-foreclosure tenants looking to rent.

I was under the impression that this property had been abandoned for 10 or so years (needs demo'ed), however the Recorder of Deeds office tells me that the tax bills are still sent to that address.

Try contacting an agent in the same office as the REO listing agent or broker.