Even if you found a member from California who has done something similar you could have some local ordinance or other red tape that could bite you later.

You guys ROCK, man!!

Banks have too much red tape and procedures they have to file before they sell.

8806 Rolling Rock LnDallas, TXhttp://www.zillow.com/homedetails/8806-Rolling-Roc...2300 sf3/2 2 car carport + storageVery clean property, needs a couple windows put in the front of the house and kitchen redone plus some paint.  

Also the Universal Life thrust in retirement planning is a red flag, to me, because of the high upfront commissions involved and needless complexity often imposed in these products. 

The seller, in this case the bank, claiming they do not know about security deposits on a fully occupied building, is a red flag.  

I am unsure of the legality of this but I've heard it done successfully by others.Keep turning over rocks until you find something exciting underneath. 

Since you're busting all those holes in the plaster walls, you might as well just gut the place and sheet rock it.

Market is red hot right now ...

Red fin, Zillow basically worth less when giving that information.