I've been getting leads and talking to sellers for close to two months now and many of them have Free & Clear properties.If the asking price is too close to the ARV, my choice is always to talk them to seller finance the property.I've being told by other experienced investors that buyers nowadays don't have huge down payments.

I think people buy multifamily with not enough reserves, don't plan for capital improvements, start deferring maintenance, slowly the deferred maintenance catches up, resulting in less occupancy which leads to foreclosure.

if so, mls, loopnet are a great start..call a few commerical brokers in the area and tellthemwhat you want..they'll let u know when they have it...i purchase properties that need work and have tenant problems...i get these leads from craigslist and my signs..i also call landlords when their property looks like crap to see if they want to sell..

THAT always leads to an interesting conversation with my buyer:Me: "I need $17,000 for this one"Him: "But it's in MLS for $12,000"Me: "No it's in MLS TODAY for $12,000.

This type of business can lead to having a park named after you.

I have purchased homes that were leads from guys like you that I met, guys that know the area.

Both leads came from BP.

You can change the carpet then lay down some plastic runners leading from room to room.

I get about 15-30 properties a week from them and usually they are good leads.

Andre you have to watch out with that.Tenants can pay partial rent and say you took the money and agreed to a workout with them rather than evicting.I have my property manager go around and if they want to pay a partial he calls me and I ask for check stubs and other data to verify what they are saying is true (hours got cut,boss hasn't given check yet,boss gave bad check for paycheck etc.).Then I can make the decision on what the workout will be if any.If I let them just put deposits in my account or pay partials online that can lead to a big mess.CONTROL is key.If you give control to the tenants some might do right but many won't and they will take advantage.