That's what I get for skipping coffee this AM.

I know an investor that rents to a lot of Section 8 tenants in Victorville if that's any help.Desert Hot Springs is a pit, but nearby Palm Springs and other Cochella Valley towns have some primo properties (not sure about their investment value, however).

He likes to do figure 8's around the couch and coffee table...lolSorry for being off topic.Alex

Invite these people to lunch or coffee and pick their brain.

I hope to go drive around some nice/trendy neighborhoods in some big cities nearby like Seattle or Portland and take tons of pictures to get ideas.

If anybody can suggest (or delete) other points I'd be grateful.This is really for 1-4 unit residential properties.Pre-Buy Checklist1) Demographics, ages, percentage of renters to home owners, incomes, type of jobs, type of renters2) Job centers, taxes, services, fiscal solvency, construction, renovation, land use laws, civic pride, gentrification3) Sales and rents trends, cap rates 4) Transportation, freeways, congestion, public5) Vacancy rates6) Property taxes, utilities increases, growth corridors, nearby office construction, replacement costs compare to new construction, 7) Growth in jobs, economic base, and population8) Weather patterns, natural disasters9) Building: architectural styles, materials, purpose built or conversions10) Established rental management companiesPurchase Checklist1) Inspections: property inspector, structural engineer, pest control expert2) seller disclosure statement, 3) statement of income and expenses, sellers IRS Schedule E4) Lot size and value5) Verify code compliance6) deferred maintenance7) space, view, natural light, noise8) Personal property & fixtures9) All co-owners present10) Site boundaries 11) Improvements 12) Clear title13) Deposit conditions14) Condition of property15) Escrow credit for repairs, 16) pre-closing casualty losses 17) Settlement costs18) Dates of closing and possession19) Tenants leases and rental info and their property20) Contingency clauses, environ, hazards21) Insurance22) Read all leases, check for rents levels, concessions (one month free rent etc), who pays utilities, yard care, snow removal, furniture and appliances, duration of leases, security deposits. 23) Ask tenants to confirm their terms of lease.

In fact, collecting is VERY DIFFICULT at best.In addition, if you get a default judgment because the defendant didn't show up in court and the defendant later hires a lawyer, that lawyer can have the judgment set aside in less time than it takes to drink a cup of coffee!!!

Last year, in the coffee shops, I was telling people that unemployment would be about ten per cent, but that while foreclosures continued at a lesser default rate those issue would still remain for a couple years.

You can make your best stab at it by looking at current (< 90 days), nearby (< half a mile, same neighborhood), similar (same style, same beds, same baths, same finish levels, similar square footage, similar location) properties, and get an idea.

There is one downside - there's no longer time to take a coffee break while waiting for a Forum page to load.