I live in SW Florida where I owe $335,000 for a house surrounded by homes forecloure specialists are enjoying profits from selling at $125,000 (in much better condition than mine), and at least another thousand brand new unoccupied homes nearby.

As to doing the due diligence, you should be able to find a CPA to give an opinion, Charles is here on BP and I would think that you could have him run the numbers, be sure to pay him to do so, you don't need a CPA in town really since we have all the gadgets we do now.I'm a little worried here too, because you're getting into commercial and sounds like you're brand new to it, which makes me wonder if you might not need a mentor in your area or in the investment area for due diligence.

It is actually a two bedroom but everything is brand new.

Sam,Using Timbercret vinyl siding here,,its .046 thick,,,wish I could find some .050 (mill)thick.But the alberts site says done same way for hardi plank or other cement board productsSo many brand new houses are improperly flashed there windows and walls will fail in 10-15 years(and thats not very long).

I've been working on building the site and the brand, as well as finding some funding to get these necessary things in place.I like the website, by the way.

Furnace is brand new.

Those that have been around or done a lot of short sales seem to be much more open to it OR those that are BRAND NEWBIES are open to it.Also, lately, at EVERY closing, I'm grabbing the buyer's agents business cards.

You can say the house was "staged" to sell with brand new furniture, piano, wine cabinet, art and paintings on the wall etc. etc....

Things break in brand new buildings too!

Citigroup has essentially re-branded Argent Mortgage as Citi Residential Lending."