Minor example would be a satellite dish installed where it shouldn't be, and a major example would be a huge toilet leak that has gone unreported for a long period of time.

Turns out the previous owner who was long deceased somehow received a loan from the department of public assistance (obviously an expired program) against the house.

Splitting the meters is costly, and in my area the majority of the multi's were not originally built that way, so separating the water lines is necessary after you get the new meter.

The house is fairly clean with no major structural issues.

Starting the new year off with a major typo!

The town is approx. 17,000 and the facility is also in close proximity of 3 major Lakes and one small University.

Most of my renters prefer an electric stove (and heat) - cause they don't have the cash for the deposit with the gas department.

As of right now we are in a major bull market, so this could prove profitable all on it's own.

Nick- I'm focusing on 3bed/2bath, under 2000 sq ft, not afraid to do some renovating, but not looking for major overhauls!

Its a numbers game and thats just what it takes to take deals down off MLS.2) What I would suggest is finding 2 or 3 realtors that are the listing agents for a majority of the bank owned properties in your area.