I giggled a bit when you said you want to continually be improving your properties because most of us want to get nice rentals and not have to always be fixing them up (you know how things hit you sometimes when you are speed reading).But it sounds lovely that you want to provide a quality product to good people.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.Consider checking out HUD homes for small multi's owner occupied gets first crack.You might consider Niche or Specialized Housing like student housing.

You might consider Niche or Specialized Housing like student housing.

Just came across some interesting properties on auction.com, and they do offer special warranted deeds, I guess it is better than quit claim deeds, which you don't even know if the seller has the right to sell.If you receive special warranted deed and clean up the ones that bank didn't, you are good to go, and may flip to next buyer who would take mortgage.Anyone has experience with special warranted deeds, care to share?

I see basic legal services, such as getting a Will in such an arrangement, but not specialized areas of law, I want and would require for my clients a higher degree of local expertise.I understand having the idea, but I don't think it's a good idea, at least as to closings.

They are trying to move that product so they will know.John

I know that I would definitely have to research HOA's financial standing when looking for a unit to buy in order to avoid those special assessments.

And the interest rate is worse than any other local lender I've gone with to date.So, for me, this loan product is simply unusable in its present format.Until they come back down to earth, I just don't see it being a good fit for me or, likely, any other small investor either.

Special Warrantee Deed?

The tax code info is below. http://www.irs.gov/publications/p946/ch03.html "...For qualified property placed in service in 2012, you can take an additional 50% (or 100%, if applicable) special (depreciation) allowance.