Probably your best bet is going to be if you can find someone that will owner finance you.

If you don't keep an eye on your property managers, they will do things like cut corners on upkeep to make profits look higher and then you will get stuck with a big money repair down the road.Maybe your better bet is commercial property with long term NNN leases.

Initially listed for 135k, now at 89.9k.

If a tenant has a complaint after they move in with something that was acceptable during their initial walkthrough, it's not going to be fixed/replaced.

It does need some up front maintenance, primarily the roof which I would do initially but any interior maintenance would be performed as their lease expires.

If you anticipate the things renters don't like, and address them during their initial visit, you have better chances to renting the place out.PS try posting on hotpads.com (free) and zillow.com ($9.95 for 6 mo).

I initiated an eviction, which will be on her credit report, and now she pays on the 1st.

So, I have a partner and have been given the opportunity to attempt to present to pre forclosure owners in an attempt to get them under contract.Has anyone had luck in using Facebook as a means to make an initial contact?

What I am looking for is to put together an initial letter to him ( and his wife) that lays out (the easiest way) these deals are structured.

This is just a hunch, but i think they had a big board meeting when they were nearing there target reserve levels to initiate release and it went: "well boys n girls, we will have the reserves built next week to start dumping these reo's, but know what, our lobbiests rocked and got us all the money we could ever need, and I'm loving these reserve numbers, screw it, lets invest these reserves and make MORE, and just trickle those reo's out until values make it worth our while to dump em" "but sir, what if these decaying assets start costing us, in Michigan we have to tear them down?"