When my tenant signs the lease I give them 12 deposit slips with a bank account number I use strictly for deposit purposes only.

Be sure to follow the SEC regulations related to the sale of securities, because that is likely what you will be doing.To all of the other people that read this thread, don't misconstrue that the above complicated structure is required for simple flip deals.

The note holder can change the Trustee, often changed at assignment but many don't change them until a pre-foreclosure phase.Your "law firm" really needs to be where the property is unless you want a chain of firms tapping into costs of collections, these are regulated and limited but you can be assured you'll be maxing out to the maximum allowed.BPOs:How are you vetting a real estate agent's ability to appraise and value the collateral?

You have to also understand your local laws; landlord tenant regulations will be based mostly on state specific laws, and then there will be some local municipality ordinances to deal with too.

What Randy said, and I would also call your state department of insurance or whatever agency regulates title companies, tell them the problem, and ask for assistance in getting your taxes paid.

We are one-of-a-kind in that we are super strict about spam, which helps us stand out :) Sometimes people get upset with us because we remove a lot of posts, but it's so worth it because it's pure value and content - no pitches!

RIght now my DM is pretty tight and strict.

J Scott, unfortunately my employer is looking strictly in Southern California so looks like I have a TOUGH road ahead, I do understand that short sales are drying up, but my employer is looking for short sales and possible unity or properties to tear down and re-develop.

Jon, do you see any appreciation potential in 78725 or do you think that it's too far out too see any appreciation and is strictly a cash flow area?

This cycle is being impacted by so many influences (world economies, internet sales, warehousing, energy costs, consumer confidence, residential bubble, governmental regulations and taxes, etc., etc.): but, the bigger players have been acquiring portfolios and/or investing for the last two years.