In the 500-800 price range, there ARE no decent homes available for sale.

One group has up to 10 million liquid.What percentage LTV are these homes available at?

They are certified and appraisals are available.

Billions of dollars in commercial loans are set to come due in 2009-2010 and there are very few commercial loans available right now.

It is best to contact the county clerk office for the county and or go/call to the courthouse where deeds are recorded and ask them if they know of a service that compiles and provides the list to the public for a small fee.In Houston, Harris County they use a law firm PUBLICANS.com there one can pull the tax deed sale property for next month at NO fee... but it is also available for a fee from a foreclosure listing service that compiles it along with the BANK foreclosures for about 40 a month... so you get both in a nice neat list!

Cash availability for fix up may be an issue for you and that seems like the reason why you want this one that it is rent-ready.I would caution you to explore your possibility of refinancing to pay off the note in 18 months.

Are blanket loans, or portfolio loans still available in 2009/2010?

The forms are all available however at each County office and are "fill in" forms.

Nate, congratulations on being able to set aside enough money to start your investment portfolio.If your investment area doesn't allow you to buy a suitable multifamily with your available funds I would lean toward your second hand option.

Find a local wholesaler and see what they have available.