The biggest negative I can usually think of for Albany is that the taxes are high in relation to the assessed values (100k assessed value usually means about 5-6k in property taxes).

IMO it's not luck, it's risk assessment.   

If someone walked up to you and offered you a Rolex for $50, would you try to assess whether it was real or not?

But that does not mean that there aren't wholesalers out there that could add tens if not hundreds of thousands of dollars of value to YOUR pocketbook.Either way if you buy a property from a wholesaler at an above retail price, then the wholesaler is a fool but you are an even bigger one.Obviously, learn how to assess what a deal is or someone will take you to the cleaners, and it probably won't even be a wholesaler who does it.

I've done that little trick dozens of times and I've never thought to share it.

Rich I have flown up and down the Pacific coastline several dozen times and can count on one hand the instances that the Oregon and Washington state coastlines were visible, i.e., not covered by clouds.I would definitely consider a summer home in this region, as the Pacific Northwest has some breathtaking days in the summer.

While some banks may allow a borrower to make a deposit toi an individual account, many will not.There are also issues of insurance, loss proceeds being paid, taxes being paid, new assessments, 1099s and 1098s issued, notices conforming to state law, letters of demand conforming to legal requirements, collection practicies and the list goes on....And, by the way, not all calculators comply with legal requirements in computing interest, if you are off one tenth of one per cent, you can have problems.

I had a similar problem and I called a dozen or so flooring guys.

I have bought dozens of properties at sheriff sale and researched 1000's and I am in the middle of a situation that I have never seen nor heard of.....and I am currently out $500K cash as a result.My attorney is working on it and it might get resolved but I wonder if anyone else knows about this.I am in a judicial state.

Sounds like $25k per door in a solid market like Houston with good financing terms is a good deal (assuming you correctly assessed deferred maintenance).Wanted to ask about management fees -- isn't 10% plus one apartment a bit steep?