I've been looking at pre-foreclosure properties and came across one where heirs of the deceased owner of a many-years-abandoned home with significant equity were persuaded a couple of years ago, for substantial $, to quitclaim the property to an investor (the heirs think he is an attorney, but he's not). 

I actually do have about a half-dozen searches set up by a few agents I've talked to over the past couple of months.

I have a couple rentals myself in Hagerstown, Feel free to give me a call.

Derrick,There could be a couple of reasons for this;- Current owner purchased via taxes / distress / etc. and received no operating information.

A good one, with a list of your repair demands, can probably write a demand letter on your behalf for a couple of hundred bucks, which is cheaper than moving unexpectedly. 

I looked into this quite a bit a couple months ago as the city I live in is included. 

Looking at a couple of properties and the valuation based on income information, expenses desired cap rate is giving a property value that is way off from asking price (mkt?)

1. If I am using a hard money lender I will be using "All Cash" but the Calc Does not offer an option for points if you pay cash, ONLY if you are financing.2. If you have other income that is not Monthly income there ...

For those minor repairs I believe just giving a couple days notice would be sufficient.

I am married, 27 years old, and I am in the education phase of real estate investing career.