But, for those few lawyers who understand how pro-consumer the statutes are (often watered down by misguided judges in my humble view in appellate cases), they enjoy a viscous advantage.  

Well I went to turn the water on after having all of the new Pex installed in the basement and I heard a god awful noise.

I'm also not sure how steeply your market is dropping but a fast rehab and sell for 290K or so Vs. the nominal 10K wholesale fee(not sure what you want out of the deal).

Has it seen as sigificant a drop as the Sac area?

I'm guessing 1% of the last sale in CA, I don't think it drops on a short sale, and another hundred a month to insure it, not sure about insurance rates in CA.

I was in her apt last week when I dropped off the application for her and noticed two toothbrushes in the bathroom.

Just dropping in to introduce my self, my name is Danny and I'm a student attending a college in central Texas.

List price $440,00016- 1 br units; one building; upper and lower units1 vacantOn site leased laundry (2 machines)Landlord pays water and gasTenants pay electricRevenue per unit(stated):11 @ 4151 @ 4402 @ 4301 @4201 @ 410Laundry $1100/yrTotal Rev $81,320/yrExpenses (stated):Gas/electric $8626/yrWater $4300/yrTaxes $8000/yrIns $3000/yrYard Maint $1490/yrTrash $804/yrTotal Expenses (stated): $26,220/yr (well below the 50% rule)Tax information: last transfer 1999; 54.2663 mills for non-owner occ.; current SEV $162,400; taxable value current $145122From the listing agent: Nice old lady has owned them for 30 years; built in '70's; currently has one vacancy; all units are 1 yr lease; half of tenants have been there for a very long time (years); other 8 units turn about 1x/yr; great neighborhood; upscale community; walking distance to downtown; roof is 4 years old; hot water heat (LL pays); "A" propertyHave not seen the inside yet, from the pictures I've seen the kitchen/bathrooms are outdated.

But home prices here are just dropping like a rock.

That's good, because you may not have the same kind of drops.