The other redeption periods are still in effect, and purchasing one of those leins can be a way to acquire the property after the sale but before it becomes a REO.The new law, the "Colorado Foreclosure Protection Act" defines both preforeclosure consultants and equity purchasers.

Right now I am in the knowledge acquirement stage.

I would probably 1031 out of my rental and acquire SEVERAL properties, possibly Santa Fe NM or OR (personal preference obviously) and maybe even sell my residence pocket my 1/2 MM tax free, pay some taxes on the balance and get out of La La land.But that's just me, I don't have to make your decisions, and I STILL WOULDN'T FINANCE THAT UNIT.all cash

Any ideas on how to find out how to try to acquire this property?

If you have questions pick the right forum and post.Did you do anything creative when you acquired the 3 properties you do own?

If you are a creative Colorado real estate agent that works with investors please contact me.I pay between 2-6% commissions on my transactions.The week before last I acquired 2 homes and early next week I expect to have 4 more under contract.

2 I do not have the means to acquire these at the moment nor do I have them under contract.

You could get a job today at Dairy Queen that pays more than you're making.The only thing that separates your life 5 years in the future from your life today is the books you'll read, the people you'll meet, and the education you'll acquire.

So it should be a pretty straight forward to figure out.So, then the $179K is your basis at the time when you acquired it.

.$950 monthly loss.So, for only a little money up front, you can acquire a property that will suck $1000 out of your pocket each month.