It's about as painless a way to improve your skills in this area as I've seen in a long time.

:)Heathen: Just to clarify, what you are saying is, if the house that we buy @ $200,000 which fortunately appraises to $300,000, we stand a good chance to get at least $240,000 loan approved by the lender?

What are the chances of trying to purchase the property (i will be the principal) during the time of the Trustee sale (i will attend sale to track the sale) and before it is listed as an REO assuming no one buyes it at the Trustees Sale?

The depreciation on rental properties (residential 1-4 units) are calculated from the value of the improvements and divided by 27.5 years.For example, lets say your rental is purchased for $200,000 and the land is assessed at $40,000 and the structure (improvements) assessed at $160,000.

Obama just showed his inexperience in International politics, and now if he gets elected, there is a very good chance Iran, or someone else, will actually think they can get away with attacking Israel and the USA will do nothing.The president's main job is International politics, and Obama took his eyes off of that and looked at temporary political advantage domestically instead.Since I think we are going to have a Democratic president next, and I suspect that it is going to be Obama.

Does that sound like a good idea to improve my skills in investing?

He looked at the property and made a deal with them and bought the house before it even had a chance to make it on the market.

Local banks are staffed with decision makers who know the local market and have a vested interest in the improvement of the local market.

In fact I'd be offering all the tenants a chance to buy them on really good terms, low down owner finance.

The motion to compel hearing was 5/2/08, however the judge didn't even give the attorneys a chance to present their evidence/tell their story, as he said he was going on vacation and had another big case, and couldn't have an evidenciary hearing until 6/24/08!