He has several properties in my local area and I am hoping that he could be a good starter lead for me as I begin my journey.

@Michael SmithBrianna is exactly right - RT4 allows for more units, but I bet at least one is illegal.

BUT you have to have access to quiet money or bank loans... there is hard money for this but your returns will go down to 20% or so if you borrow at too high a rate.I bet you can do this in CA pretty easy to doing infill in the more popular towns. and metro areas.

I'm betting the original deliquent fees are closer to 2-3k.

Second you can pay a search company to find out all the details you need to know, but this is limited to a certain % of accuracy and option 1 is your best bet.

I would say that your best bet for becoming an REO agent is to create a good relationships with an Asset Manager.

as of Sunday, I am long on Top Ramen noodlesI think puts on Jenny Craig and weight watchers is a safe bet as well

If you take a second to think about it, I bet that a joint effort of all BP members could have raised the funds to buy Bear Stearns.

You can bet that when a listing says that the property needs a rehab, they aren't talking about carpet and paint!!!

It is very true that throughout the journey of locating investors, you will run into many liars/phonies who claim to have experience, but really do not.