Now the identical sister building is going to be up for So I recently bought a foreclosure duplex that was built in the early 1900's for $260k.

"Here is your opportunity to buy this lovely 3/2/2 in a highly desirable area, the lot is 1/3 of an acre m/l with mature landscaping and it comes with that "million dollar" view,  all for an asking price of $229,900!

If they've had a couple of price drops, then they're going to be more motivated to take your offer, including financing contingencies.In my case, the home was one of four almost identical craftsman style homes on the coast that were built by Russian developers.

It also reduces your liability for your identity being stolen.

I'd only recommend 'going there' if you see going ALL IN (full-time), and if you want to really create a local identity/reputation out of it.

There are likely lots of nearly identical "comps" that simply haven't sold in years.

Balloon simply means the loan did not fully amoritzed at maturity.

Also, the townhouses are almost identical in terms of size, etc.  

For example if you have two houses identical in size, that for the sake of this example, need equal rehabbing, let's say...$40K.

Here in Oakland, 4plexes that rent for $4,000/month are valued almost identically to those renting for $8,000/month.