These are cash-only deals, too small to interest the major players, but the bank owner (or short sale owner) is very motivated to unload it.I'm looking at a 50-unit prospect now that looks to be $10k/unit all-in, with $500/mth average rent (75% of units are 2BR) and tenant paid gas/electric.

Like the three card molly guys in the ghetto they always have their stooges win a few bucks to get the crowd going.I'm a Capitalist but what you have in America is a con game.

The fantastic stories these "presenters" were trying to feed the group I was in, sounded like me a bunch of years ago trying to make the next sale to win the cookware set.

This can lead to additional corrosion w/in the pipes, possibly leading to premature failure of the heat exchanger, which is not inexpensive to fix as I just fixed one on one of my properties.Assuming you're on gas, you could (imo: should) install a condensing gas boiler.

I'd much rather create a win-win for all at a lower but still reasonable price.Also, not sure what you mean by "or even see if he will give you a bird dog fee and let him bid to find it."

It should be a win win.

On paper, the cash flow looks better in the worse areas, but I've found that over time location wins out, with easier management, less turnover, better tenants, and especially appreciation and more options for resale.A caveat is that if the lesser area is gentrifying, which you say it might be.

For example:- We'll pay all closing costs- We'll pay for any appraisals that we're legally allowed to pay for- We'll extend the financing contingency to the closing date- We will extend the closing date for as long as the lender requiresThese are generally very attractive incentives to buyers (especially first-time buyers who are nervous about the process anyway), and therefore it's a win/win.Btw, we have no fiduciary relationship or financial agreement/arrangement with our lender (that would certainly be illegal) -- we just know he's one of the best in the business and we trust him completely.

I think the real issue is one of notification, where if the first lien holder did not receive proper notification of foreclosure they could potentially win recourse of some kind in a lawsuit. 

Consequently, not all filing will be published in adjudicated newspapers.The other issue that we have here in CA is that the primary asset is not identified in the legal pub unless it's listed under a Notice of Sale, in which case, someone's beat you to the property and your only remaining chance is to either win an overbid or win by way of a buyer who does not perform and defaults on the contract.About the only thing legal pub does is notify the world that a private has been opened (notice to creditors).