There is plenty of equity in the property, but since most of it is penalties and interest and if it is true that they get nothing if the house goes to foreclosure, then it is an unnecessary expense that we would like to avoid.

If this is true, then I'm only after a report that reveals the Tax/Mechanic and Judgements.

Does the bank like the BPO to reflect the TRUE Market Value, or are they looking for more of an "inflated price"?

Should I start marketing in the paper, flyer's, business cards etc?

This is true that the homeowner can refinance their home to save themselves but in most cases it is very hard to get conventional lending when you have a rolling 30, 60, or 90.

Yes, true that you always need to keep learning.

After three price decreases of course, not always because of market conditions, but often due to agent neglect.100% true.

We are also planning on making up some business cards and attending some real estate investors seminars.

In the early 80's I got into the kick of buying baseball cards.

I would be lookiing for a 9% cap or better on the true figures.