jdunsava - I'd like to welcome you, however I must also warn you to follow our forum rules.

As someone noted AZ might be different but as a general rule a property tax lien is first in line.

As a general rule, the faster you can sell a loser, the better!

Hi Charles,I'm holding all my deals as rentals, so I use both a cash flow analysis AND the 70% rule (I'm currently using 50% due to the downside risk in the market) to determine the price I can pay if the house is in good condition.

I use the 2% rule for how much rent the property should get.

You need to check you local rules.

Then there are the tenant files, maybe getting signatures on new leases, issuing new house rules and contact info, inspecting the interior of new properties, getting "on top" of tenant issues and property issues.

By that I mean there will be something that says you have rights to enter and that you likely have to provide advanced noticed.Unannounced visits are not allowed and can be ground to have a future eviction blocked.If you own 6 units it is time you checked out the rules in your state.

As an example, dual pane windows may cost $12,000 to have installedbut if you have two identical houses except for those dual pane windowsthe average buyer will not pay an additional $12,000 for the house thathas them.

I use the 2% rule to screen for properties that are at least worth evaluating, which is where I came up with the $436,000.Mike