I've been looking and comparing the avergage/sq foot price sold, and it really seems like the REO's flood the market for these zip codes.

What approach do I take without shooting myself in the foot?

I am married, with an 8yr old child.

You will find the price per square foot to be much lower, but then perhaps vacancy rates will probably be higher too.

Even with the deep discount, it is still $167.50 a foot.

Many times the seller will just say something like insurance inspectors are here to take a few pics etc.If the adult is not there do not enter the property.Do not even step one foot in there.Did you review the rent rolls,vacancy loss,turnover frequency,late pays,strength of the existing leases,etc.???

For example; * Job loss, and family income has dropped by $2400 per month * Medical Bills due to “Xâ€, which total over $50,000 * A divorce which puts child support and alimony burdens of $1200 per month * My ARM has increased my mortgage payment by $800 per monthSecondly, you need to demonstrate how this hardship impacts your ability to make a mortgage payment.

It looks even better with the foot of snow we just got blasted with ;-)

saw a cool quote the other day "when big brother has his boot on your neck, it makes no difference if its the left or right foot." something like that Im posting from my phone So close enough

Parent has cash (or could potnetially liqudate mostly into cash) and buys investment property in the child's name.