When I go to areas or neighborhoods I am interested in.

., Preforeclosures, Short Sales, etc.).More Importantly, if you are driving through the neighborhoods and you happen to locate a property that appeals to you, you may want to get the address and contact the owner, then make an offer directly to him/her or them.

Most families receiving this type of assistance stay in the rental for an average of nine years, plus the government sends you a check on the first of every month for full market value rent.† Check your local housing and development authority for opportunities in your area.† Many cities are offering incentives to investors interested in certain neighborhoods so check with your city planner, neighborhood associations, and government agencies in your area to find out what may be available to you.† As with any purchase these days make sure you buy the property at a low enough price that a temporary rent reduction will not eliminate your cash flow.Offer the property for rent for $500 a month more than you actually need and advertise that discounted rent available to qualified renters.† In this case you offer to reduce the rent $500 a month if they agree to take care of any problems with repair costs of $500 or less.

Last REO I looked at (in absolutely terrible condition, but in a so/so neighborhood) sold for well above what the bank had it priced at -- because a torrent of flippers bid up the price!

Good location, some rooms are in decent shape, Craftsman-style details throughout.

Shortly after, I heard racist comments about me, asking why a "white boy" was in our neighborhood.

Recently found some beautiful austere Victorian styled townhomes and ONE dilpapidated apartment building which has great potential.

Until then, I'm driving around the neighborhood this week for more potential properties.

I can investigate suspected causes; such as: toilet or faucet leaks, unapproved (by me) neighborhood Laundromat, use of outdoor spigot to fill children’s pools, leaks in the piping, etc.

Bad neighborhoods require more cash reserves.