Saving you the commission on any deal you acquire yourself. 2.

Mold remediation can be very expensive as can foundation work.

Our logic there being that we will basically add the PMI to our cashflow, and it lets us apply for another Owner Occ loan if we need that tool to acquire the next one. 

So, it’a a learning process and with the knowledge I acquired from Bigger Pockets and their recommended books I saw the potential in this listing, too bad I wasn’t able to pull the trigger.

Snow - I’m going to be the contrarian of this thread and say you should first get experience with acquiring a property.

Mold remediation and full renovation of the interior, exterior, and landscaping.

That sounds like a relatively quick way to remedy the problem.

Did you acquire it?

From what I'm putting together, once the banks acquires the property they take 6-7 months to clean it out and put it up for sale at market value regardless of property condition.

Randy - our group specializes in acquiring and operating student apartments.