Some of them were betting against the very loans they were making by buying credit default swaps.

Protect your initial investment, but don't go overboard.

For any paperwork that the seller needs to fill out, I write my initials small in one corner.

., they will send me a more detailed pro-forma, but after I initiate a relationship.

I initially had a co-insurance problem with an apartment complex that was partially burned earlier this year.

I bet you can buy two (or more) smaller houses (1200 sq.ft more or less) in a bread-and-butter neighborhood.Will your 2700 sf beast cashflow given the 50% rule?

. / $4,166.67Annual debt service “DS”Revenues:Monthly AnnuallyRental Income$935$11,220.00 (RI)Vacancy @ 8% ($74.80)($897.60)Net Rental Income $860.20$10,322.40 NRI)Operating Expenses:Property Tax- 1800 (this is being challenged currently, but no ruling at this time)Insurance- 1000 (estimate, I will get a quote on this for sure.)Maintenance- 1200 (Estimate)Utilities- 800 (Estimate)Advertising- 100 (Estimate)Total Operating Expenses (*Very Estimated*) = $4900 (TOE)Net Operating IncomeNRI-TOE= NOI$10,322.40-$4900= $5422.50 (NOI)Total Cash FlowNOI- DS= TCF$5.422.40-$4,166.67= $1,255.73Return on InvestmentTCF/ TCO= ROI$1,255.73/ $5,000= .2511 (25.11%)Cash on Cash (Considering- Down Payment, Upfront Repairs, Closing Costs)TCF/ TCO (W/repairs and closing costs)$1,255.73/ $6,500 ($5,000 DP + $0 Initial Repairs + $1,500 Closing Cost) = .1923 (19.23%)My thoughts regarding this deal: I think the asking price is a little high for the property considering it’s age, condition (off of visual inspection from the street level only), location, what limited comps I could find.

A buddy submits 10 offers at a time and then does his initial inspection after he hears something positive back from the bank.

Nathan - initially I was going to try to short sale this property.

About a month later the same exact quit claim deed (indymac to deutsche) was filed for a SECOND time by another law firm, different than the one that initially filed the QCD from bank to bank the first time.