We as RE investors need to always continuing on learning more about this everyday changing business, there are to many gurus out here steering new investors wrong on "played out" strategies that doesn't work and I cant stand when a new person wants to change their lively hood and a shark guru taught them something that has not work since the 80's.

If you ever have a vacancy you would need to remove water tank, furnace, condenser and board up property. 

Yes, make sure you understand what a "private lender" is, the term is really misused.Be aware, Arkansas has usury laws, it was 10%, so check and stay away from loan sharks. 

The seller paid $4,500 toward my closing costs and $1,000 for me to get a new hot water tank in the other unit!

Here is an interesting article.https://www.biggerpockets.com/forums/48/topics/356...But isn't it better to be less leveraged if the RE market is tanking?

Electrical and HVAC, also both hot water tanks were just both recently replaced.

The $450K is probably the amount the owner owed the Bank.The sheriff does NOT list the upset prices.I would say the most important things to look into before buying at sheriff sale in NJ:1. tax liens2. condo liens3. primary lien that might survive the sale4. oil tank or other contamination - need of remediation5. know if property is occupied or vacant6.

Homes with Underground tanks (in use or not)2.

The furnace, oil tanks and windows were all done about 10 years ago.

If I was doing my first rehab (which of course would come with cost overruns, mishaps etc) while the market/economy was tanking....haha ya that wouldn't be good.On the other hand, some people do deals in good markets and bad.