Tenant decided to move out February with no thirty day notice, previous landlord never did a move in inspection.

I received a noticed of a Wholesale seminar taking place on 3/31/15.

Unless you can actually buy, as in a cash sale or know darn good and well you can get cold cash, you should avoid anyone who has received notice of foreclosure as that is when new federal laws kick in as to "helping" owners or interfering with banking operations.

Yeah I've noticed that, a lot of houses in point breeze listing for 300 and selling for 200!!

Very pleasing to see your introduction showing you are keen to jump in at the deep end.I'm not an expert at analysis, but I like learning, especially from these sort of useful details, and have read a lot of other responses to similar questions.The first thing I noticed is that your NOI looks to be out of whack.

I do not believe that seller has given official notice to tenants.

If the area begins to transition, the Cap rate will decrease, forcing the value of your property even more. 4) What's the downside?

My partner and I refused to signed their contract by this point they notice we were catching on so they agreed to sign our contract but wanted a 14 days due diligence, why?

I placed them on notice that I intend to file a complaint with the Real estate commision for this whole deal.  

:)thx all of you who've helped give your time and advice. what i realize now is just how hot our market is here in asheville, which makes finding anything that even comes close to passing the 2% rule very difficult, or just about impossible unless i can find a truly motivated seller. i've noticed on zillow that country records will state when a home is in default. i'm sure there's a lag time there. is there a way to get this information faster?