So im looking at a property now i would like to speak with the owner on or find a number too and the house in owned in a LLC name.....If i am trying to contact him/her and the mail address is to a po box, what should i do?

There is a good possibility there is no insurance on the house because it is owned outright and the owner may not care.If we are paying the homeowner a reverse mortgage we will want to be sure it is insured. 

The condo association must be solvent and warrantable, meaning they must have good books, cash reserves and also be under the threshold of owner occupied vs investor owned units.

Networking led to the opportunity, as the previous owner reached out to me through our local REIA.

The owners are feeling pain from their property it could be the children who inherited the property, poor management leading to deferred maintenance, vacancies, and many other inefficiencies.Most owners in this spot are looking for a way to end the pain they are feeling and many will take a path that solves their problems and gives them something in return to justify the sale.

There aren't many 5+ unit properties trading in those areas, and the 2-4 market doesn't really trade on a cap rate basis, because it's very owner occupied heavy.

Do I understand correctly that we cannot turn the electricity and water off, despite that it is under the owner name, not under tenant?

Would you have to wait until the current owner moves out...in a year...if they actually leave as agreed? 

Your local apartment owner association is a great resource for best practices for management and screening tenants.

Like I said, I have a carrot site.