These houses sold for $100k+ in the past so there is space for both cash flow and appreciation.Inventory is getting tight in my target burbs so I'd say move now and see how it goes, it's a small bet at these prices.

I know some people like "Travel Hacking" and I'm willing to bet there are fellow travel lovers on here who do this regularly.

Odd they wouldn't have any financial statement but asking those questions might at least give you a sense of how it's doing.

So in the last few years asset prices have doubled, while rents have only gone up a bit (so basically CAP/returns have fallen off a cliff since everyone wants to own in Montrose)Better bet would be to go a few miles east.  

@Bryan Shelton,Your better bet would be to learn about how to attract and engage private lenders.

You can DM me if you want the specifics on my commercial experience but I think I'd be thinking: 25% down, 20 year amortization (you can probably get 25 but I doubt you'll get 30), it's probably going to be a full-recourse loan, odds are the interest rate will only be fixed for 5 years and then there will be a balloon payment and a reset, and they will likely want to review/approve the insurance policy you have for the property.     

I'm thinking my best bet would be to talk to a GC in the area.

If you start to get a large number of units you could start staggered buying 3 month CDs (that mature at regular intervals) as the odds are that two roofs won't collapse in the same 30 day period.

Completely at odds with the message that was fed to me by a guru in during a weekend seminar.

And that only makes the sale voidable they have to bring a legal action to establish that.. ( ask me how I know that pearl LOL)So there you go two for one a little side bar on Mello Roos and how tax sales work in CA.lastly it is quite rare for a improved property to go to sale in CA.. 99% is land and odds and ends at that.. non buildable strips land that does not perc  etc etc.