There isn't much land left in the city so builders are buying dilapidated houses and tearing them down.

Long story short ( I know .. too late)  The guy was a real nice guy, an investor and very interested in coming to the meetups - we talked for a little but soon he had to go  -  so we said our goodbyes and he got into is car and left.

This recession has been extremely hard on new residential construction, and not left us with a lot of extra cash.  

I'm left in a difficult position then, as I would have to rely on commercial loan terms and interest rates, which include, in many cases, 35% down, and Prime +2/3 rates (which would now amount to about 5.5 - 6.5% per year).

The tenant moved out early in the day, left the place almost exactly how they found it (minus the above). 

. :-)For 130k you can probably buy one house cash, and have some left over for a downpayment for a second property.

The fees were very low, but their service left a whole lot of room for improvement.Overall, the better the market, the harder it is to find a decent deal there (kind of like everything else on the MLS).

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If I left anything out PM me..

Or it could be a house thats been stripped on the inside with nothing left to steal outside of windows and he just could not care about the house itself any more.