We have the same thoughts and ideas 95% of the time, and the other 5% we have always been able to easily come to an agreement.

Built in 2002, it is a fully rented four plex (one unit is month-to-month so we would move in there).Current asking price: $495,000 (though originally listed at 474k, he upped the price after 16 days)Days on Zillow Market: Over 100Reason for Selling: To either purchase a SFH for himself and his GF or buy a commercial property, possibly storage unitsRents: 4,400 monthly (Owner said 2 units could be easily increased by $50 to $75 each)Expenses (annual)Property Taxes (assessed 2014): 7,754Insurance: 3,000 (guess)Maintenance & Repairs: 4,200 (guess)Utilities: 4,500 (average for last 18 months from water company, owner currently pays water/sewer/trash but there are separate water meters so we would look into passing this to the tenants as the leases expire)Advertising: $150 (only advertising is for new tenants when leases expire)Administrative/Misc Costs: $150Mortgage Insurance: $6,501 (from mortgage broker at 490k loan level)Snow Removal: $1,500 (as acountants, our busy season is during the winter and we don't have the time or patience to deal with this, there is a sidewalk + steps + driveway and back parking area to be plowed)Lawn Care: $150 (supplies fund, we will mow it ourself, first year expense of a lawnmower not included)Mortgage: 26,579 (FHA, 3.5% down, 3.75%)At 495kAnnual cash flow: $-1,684CoC: -9.72%NOI: 24,895Total ROI: 40.89%At 450k (keeping mortgage insurance at 490k loan level b/c I don't have other numbers)Annual cash flow: 762CoC: 4.84%NOI: 24,895Total ROI: 55.54%As it stands, my numbers are telling me this deal will not work, given the $100/mo/unit minimum standard most people are looking for here.This is the first deal that I have really looked at though as seriously buying, so I would love other people's opinions on my analysis.

Example: if ever sued and your assets are in a land trust by an LLC, your real name and other info. can be easily searched in the system to see who owns the land trust by searching the info. created to form the LLC  that the land trust is under.

A lot of how easily you can transition to full time is dependent on your cash reserves and monthly nut.  

I have clients with enough properties that I could easily make a business managing them.

I've tried the MEET feature, but have had limited success filtering through the results.

Let me know if any of you know of any tricks on how to easily find them or if hard money lenders are the easier way to go about it.

Your goal is to FILL YOUR FUNNEL - get as many people coming in as possible so the good ones can be filtered out.The really frustrating thing is when you find a great deal, make the offer, and then lose it to someone who will pay more (even too much).  

If you do a google search for your county's online tax records you should be able to locate it fairly easily. 

I'm not very familiar with HomePath, and I haven't had the chance to check this property out in person... but similar duplexes in this area can go for much more than what this property is listed for.Here are the numbers:Listed price: $105,800ARV: I have no idea... but if the right repairs are done to it, it could easily be $175-200 in valueEstimated repair costs: Knowing it's foreclosed, and listed as "requires extensive repairs," I am putting them at $50,000.