Surge of REO listings is unlikelyhttp://www.biggerpockets.com/links/1319-waiting-to-catch-a-wave-surge-of-reo-listings-is-unlikely-

Ive ran across realtors that list the Property for shortsale but say theres NO SHOWINGS till 3 days have passed...and guess what on the first day of the three days the house ALL OF A SUDDEN HAS A PENDING CONTRACT.

They used their HELOCs for frivolous vacations and car purchases but when the music stopped and all of a sudden their payments (in addition to their first mortgage) increased (maybe even doubled), they were unable to pay them off and thus had to foreclose. 

So you come in 6 months later with a similar (or lower) offer, and suddenly it looks a lot better to a seller that's been sitting on this property forever.I have a house that I made an offer on that was rejected because, according to their agent, they could call 3 or 4 investors they knew and do $5-10k better than my offer.

However, the cash out will range 75-85% LTV of the property, so you may not get all your HELOC money back out of the investment, unless the appraisal suddenly comes back significantly higher than when you bought it.

Gentrification is a hot issue in Chicago where I live, where both POC and mid- to lower-income folks are being pushed out of their neighborhoods by real estate developers suddenly taking a shine to their properties.

So 2 people is suddenly a consensus, James?

She was at first very responsive to all my phone calls and emails but in the past 8days all of a sudden has become unresponsive.  

Little things like monitoring utilities, connecting everything to surge protectors so appliances don't steal extra electricity, no cable or unnecessary entertainment additions.

@Jay Hinrichs I agree with you for the most part, but the sudden rise of non-QM loans in the mortgage sector scares the hell out of me.