I may use him as I know that he is a local player and the education on tougher deals may be worth it.

Because the stock market is exploding- people w/ money will be forced to invest there and will not compete as much w/ HML's at low rates which will stabilize our rates- agree??

So, some do blast out offers at once but given the competitive market, the resistance from agents to entertain such offers, and the fact that owner occupy buyers don't mind paying market value or a premium, the MLS is a tough road.Inspection contingency will weaken your offer when you are competing against offers with no contingencies, all cash, 21 day close, and big EMD.

A preliminary will give a search back to the last transaction, that could entail searching estate issues, court record searches of incapacitation or competency issues and other matters that RE types simply are not trained in, so have the experts do it.Cost of a preliminary report is much less than a full search.

Hard to compete with those hedge funds and the prices they are willing to pay.

Therefore , the way you'll want to do it is to purchase a turnkey "package" where you have a competent full-time professional property company in place.

Take time getting to know your local market, the local players, etc. before jumping in.

If I had to suggest something more specific, I would consider looking into the short sales process.I think right now that would be one way that you could get away from having to compete with the banks.

We have a strong Texas presence here on BP and you will find a lot of local knowledge from some real players in the game.

Matt,First off I think this article is skewed to make you jump on the bandwagon of buying in on a memphis/detroit turn key sight unseen rentals.Yes Seattle is not great on cash flow but ...1) There is less competition, (as Tim Ferriss says things are easier in the top of the mountain when you don't have to compete for the 50-150k properties with every Tom Dick and Harry.2) As much as we are taught not to, Better and solid areas like Seattle are more consistent and offer more reliable appreciation (opps I said it).3) I am of the strong belief that you need to buy where you are familiar with.