A red flag popped up when during my due diligence period, I found there was theft involved and lost of rent that was not disclosed in a prior month.

Hey guys i had a quick question. if there is a property going for sale at a tax deed auction, and the previous owners filed bankruptcy 2 years prior, are there any ramifications in any way?

My attorney says he is a hack and that the plan is atrocious...whatever.The bottom line for what you are doing, imo, is to look for an *approved* plan, prior to that it's anybody's guess.

I ignored it until the last minute, like a week prior to expiration date, which happens to be late December.

I would never be able to get a plumber if I told him a prior owner was at fault go find him and get paid.

That said, prior to completion of probate, or before title to the real estate passes, the creditor has a chance to become part of the probate, but if they do not act, then they may not have any standing.

Account Closed You should talk to a CA attorney, but are likely going to have a hard time suing the prior owner unless he/she made disclosures relating to the condition of the property that you can prove were knowingly false.

In my county, generally, all prior liens are extigiushed.

Truth is, I have no prior experience in this field whatsoever, but i've been spending the last few days studying and reading as much as I come across to get a better idea of what I'm getting into.

My other litmus test comes from my prior cable days, which might place it at 9X to 11X cashflow (NOI), which also places value very near $80K.The capital improvement required in the water distribution system seems like a no-brainer, but absent separate metering, I wonder if you could immediately divide the water bill by the current quantity of tenants and have them begin to pay this immediately?