It won't last long if it isn't properly cared for.I must say that your post was well executed and affirmations are key to many folks.

You or any other bidder will most likely need cash (cashier's check) to purchase the property at auction.Now the IRS lien will carry over if the first hasn't given proper notification to the IRS.

Just take the time to properly research any foreclosure property.

A:[/b] A sale properly made under the provisions of Section 7-38-67 NMSA 1978 constitutes full payment of all delinquent taxes, penalties and interest that are a lien against the property at the time of sale, and the sale extinguishes this lien.

Also, if the buyer has a buyer's agent who does their job properly, they'll be notified of what the seller and their agent are trying to do.But on the whole, I think the good points out weight the bad and I think I may try this on a seller's listing.

I would highly suggest talking with a real estate attorney to ensure you cover yourself and avoid the problems that could come in working without one.

If I could see step by step the route I need to take (or at least all the "ingredients" like securing finances, tenants, and getting proper documentation) I'd be much more comfortable taking my first step.

Check the filters and see that they are promptly replaced if dirty and tenants are notified they are not maintaining the equipment properly.

On similar lines, to post in our dealmaking section, you also need a minimum number of posts.This ensures that our users are at least somewhat familiar with you, and it also ensures that you contribute to the community before making any "personal gains" from the site.I hope you can understand our policies (clearly stated in our forum rules) and ask that you abide by them in the future.Thank you.

My 2 cents...Instead of pooling money, which you can do btw by first filling out the proper paperwork with your state (I have never done that and I'm sure it's a pain in the ***), I would instead give a 1st mortgage to the larger loan (PL) and 2nd mortgage to the smaller loan (2nd PL.. maybe for rehab work for example).