If it is a full-time job for you, it is hard to sleep and you are on the phone 24/7 with people who might not be able to tie their own shoes (tenants, contractors, and vendors).

Yes there will be more renters in the market at that time but also more properties available as well.Same with real estate agents as many have left the game and when markets get stronger you will have more sales but an influx of more agents coming in so it will be a wash.They should give you printouts of the MLS sheets which show the info.We are required to put accurate info into the MLS as all the other brokers/agents depend on it.The signed paperwork is also sent in to the MLS for verification of data.

I know 5000.00 may sound steep, but I had that much in interest holding costs on my last deal plus I had to worry about making monthly payments and tying up my personal lines of credit which can negatively effect scores if lines are maxed.

In reviewing my balance sheet I see that approx 85% of assets are in RE, 5% is tie up in businesses and 10% is in cash, gold, and commodities that I own.I also have very little debt and the debt that I have is mortgages.

Generally, I am ok with diversification since I am pretty much “locked-in†to the market via 401(k) at work, so I have a significant portion of my family’s portfolio tied to the market.

The "Updated electrical" could just mean a fuse box was changed out to breakers with all the old lines tied in.

But to see pre-listing photos (or properties) - as Will Barnard will concur - you must have good ties to the listing agents for REO properties.

Bill it sounds like a good opportunity - as a cash flow property it looks like you'll tie up about $10,000 and cash-flow $300-$350 per month, is that about right?

As a Canadian with my credit history all in Canada, I have limited financing options, but it looks like it can be done.However, I've recently been looking at properties and found a short sale for 115k - cash only, which would tie up all my cash.After all expenses and with a modest rental price, ROI is 4.5%.

I think the truth is that, as a whole, the previous generation or two were (again, as a whole) in possession of a stronger work ethic while lacking the need for immediate gratification compared to today's 20-through-40-somethings.