Hi Guys,I have a rental property in Wilmington Delaware which is a single family home for $1550 rent.

@Mark De Los ReyesGlad to have you around!

Interested in Princeton, NJ & Wilmington DE area - Investing Goal: Buy low townhouse/small single house that yields small buffer from rental income post loan/opex (hopefully).Pros/colleagues in NJ/DE area - please help me get started with guidance on establishing connections and really help me define roadmap - 1. should I find an real estate agent who deals with foreclosure/short sell. 2. is foreclosure/short sale really the right first investment for a completely clueless person to start3. what should be first step to start getting hands dirty and not just read books/ blogs - kind of action oriented learning.Hope to hear and get some awesomeness trickle through..Ashish

I'm looking for contractors that work in the New Castle County, Delaware area.

Underwriting may (most likely will) initially balk, but the reality is the loan is originated with your personal guarantee and in your personal name, and the transfer (per my attorney -- get your own to confirm) is de facto written Lender consent because they funded the closing package.

House is tucked away in a low traffic cul de sac so putting a sign out front does not have much success.

Good Investing...anaheim, brea, costa mesa, coto de caza, cypress, dana point, fountain valley, garden grove, huntington beach, irvine, la habra, ladera ranch, laguna beach, laguna hills, laguna niguel, lake forest, mission viejo, newport beach, orange county, placentia, rancho santa margarita, san clemente, san juan capistrano, santa ana, stanton, tustin, westminster, yorba linda

Now I just have to assign them all to an out of state (Delaware) irrevocable trust.

The lot is attractive for a few reasons. 1) it's about 2x the size of the typical lot in that community, but not the biggest by any stretch. 2) it's somewhat secluded on a cul-de-sac. 3) all utilities and sewers are already in place. 4) my friend (who is also buying a lot under similar conditions down the street) has a strong network in the area and was able to find these under market value by about 20-25%.

I suspect these may be junior liens or HOA's Or they are just so artificially low as to crate a bidding frenzy..which is kind of soup de jour these days.. start asking price so far below market you get 50 bidders and sale price goes for higher than market once everyone is in a frenzy