The areas that experienced the largest property value drops (and thus have the greatest deals now) are the areas where the local banks have been burned the worst, and these banks are under pressure from their regulators and their own Boards, and have either completely withdrawn from investment property lending, or are severely limiting it.You would also be well-served to cultivate some private lenders, and disintermediate the banks out of the picture, as they're just a PITA.

The thing is, the price wasn't even that great--it was just OK, and they only had a few thousand in wiggle room to drop the price, although it was a nice looking property.

A hydrologist had to survey elevations and calculate water flow from upstream in a report he compiled and submitted to FEMA.

As I said in previous post, I dropped out of college and got into real estate by accident.

You might be better off using an eviction service.They will be cheaper and go to court for you and handle the trashing out and serving of the eviction.You won't find an attorney getting dirty they will just shuffle papers and show up in court.In fact I have had judges rule against attorneys and enjoyed our cases much more as we were on the ball.Some attorneys feel "special" just because they hold a law license and are below par in their performance.I tell them the eviction is filed regardless of promise of payment.I tell them you can always pay at the court hearing and I can drop the case.If you don't you will get stories like I can pay you 600 and get caught up this week and then you hear stuff like I only have 300 because such and such happened.Then they get further and further behind.They need to pay me in full and go cold with the utilities,or do without internet,cell phone,cable..

What I meant with REO brokers is they are not going to sit and secure a crap property over and over with the low commission they are making in a high crime rate area.They get paid a set commission regardless of the price.So whether it stays secure is not a real concern to them.If they sell a 10k house but make 10% which is 1k the condition doesn't matter to most of them.If a 200k house gets trashed where you make 6k on 3% commission or 3k on where the house gets trashed and sells for 125k the broker would stand to lose a bunch of money in that case on the sale.You could argue the broker stands to lose money by losing other listings from the bank in more sales but I don't know many brokers that do more than drop a sign with these types of properties.

Do you have enough flexibility to just use it at the drop of a hat?

., water getting in.)

Water heater installed 1987 with no temperature/pressure relief valve and drain line.6.

Taxes: $14396 / yrIns quote: $1485 / yrLandlord responsible for water/sewer, past 12 months average $400/mo for both