Each state has their Right of Redemption period, so you can't touch the house until the county actually enters judgement of foreclosure.

I actually purchased my first home before the age of 30 in CA, and invested in several REIT companies (some I worked for previously as VP) including American Homes 4 Rent, Public Storage, and a few others including retail property portfolios. 

There are a lot of "flippers" here in San Antonio but not many actually making money.

Brian in addition to what @Rick S. mentioned, I would also have the seller have the tenants sign a statement - which you will provide - that they understand they must move out within 30 days after closing (which will actually be longer for them considering it seems like your just in the beginning stages of purchasing) and then assign a dollar amount for each day the tenants much pay for each day they go over 30 days - think incrementally, to give them an incentive to move out.

Well when I went to withdraw the money from my 401k I realized you can't unless the funds are for my primary residence.

@Michael Swope I'm actually sitting on a deal just like this right now.  

Make sure that the inspector actually tests the quality of the sludge and leach field.

Hello all,I am newer to REI as well as BP and I'm close to looking at actually obtaining my first property.

The other friend I talked to actually works locally in housing and had similar observations.That said, this is a great market from what I can tell in the numbers I find.

NOI = $6,592Property tax $200Insurance $300 (This is not an exact quote but from reading expecting $200 - $300 -- Trying to stay conservative)HOA $540 (Although there was no HOA actually listed I went with similar neighborhoods HOA fees.)Maintenace $1,200 (The home looks updated so wasn't really sure how to estimate this.)3.CAP = .104.Cash Flow = $3,773.32This is based on a $51,920 @ 30 years @ 3.56%5.Cash on Hand Return29%If these numbers are a good indication of what to expect how do I do that thing where I get in with no money down?