If I can’t get inside then I just do my best to look into the windows & get a feeling for the condition.

Separating from the military is a challenging culture and social change that I understand very well as a veteran.

Please evaluate and lend opinionsForeclosure REO Bank asking for $135k2 Unit 4br/2b 1,687sq ftComps are low 160s high 180s But i will be conservative and say $160k for similar house sold with the same square footage The home from pictures look to be in fair condition and in a C+ neighborhood next to a military base.Firs step i went to get pre qualify with a bank to see an estimate on how much i qualified for$100k since this is not my first property (living in a SFH under VA loan) I would like to go with a HML to speak the process and go that route to BRRR the propertyHere are some question i have,1.

The overarching condition is profit at this point.

So correct me if I'm wrong but what does anyone have to be scared of if the following conditions apply in a meltdown1. youre locked into a 30 year conventional or 7 year commercial loan and the banks cannot re-appraise or call in full your loan as long as mortgages are being paid  per the closing docs2. your rents can take 25-35% cut and still break even on all mortages, taxes, and insurance3. you live in a populated and buzzing area where demand has always been heavy and unless a bomb dropped on it (yay insurance) you shouldn't have trouble finding renters4. downturn --> people lose jobs and homes or try to downsize and  turn to renting  (good thing). 5. have solid tenants that have older co-signers (parents, guardians)Am I missing something that the banks can still do to me even if I'm paying my debts on time?

In terms of what to look for in the property, look for the usual things, deferred maintenance, condition of the units, etc.

In the same world (maybe a different city or maybe a slightly nicer part of town), another person is putting up a similar place in terms of age, size, condition, etc for $1600/mo and uses $160 as the allotment.This is quite a different amount of money for two properties that may require similar maintenance costs.I do it quite differently on my properties and am always looking to understand everyones point of view ... 

However, I don't know what the conditions of those units were.

With our syndications we try and give ourselves the opportunity to capitalize on market conditions and create a financing structure to allow us flexibility to hold the project long term with minimal risk.As an investor the liquidity is one of the downsides to these types of syndications. 

@David Klein it all depends on the condition.