Although in these few years in the crisis, this has happened in extreme amounts and in a short time period over just a few years.

And to find 5-6 caps in a 50 year old B or C asset class seems extremely low.I appreciate your analysis of the market, it gives me more insight into what's going on up there.

I recently came across a extremely motivated individual who owns an 8-unit apartment complex that rents at 600-650 per unit.

OTOH, if the seller balks and refuses to sell, there's not much you can do to satisfy the end buyer.

Not very original, I know, but hopefully satisfying and rewarding none-the-less.I currently work full time (and then some!)

If the home was surrendered, a discharge order will be issued for the mortgage.If the home was selected to be surrendered, the mortgagee may opt to finish the foreclosure to deal with any additional encumbrances on title or a Deed in Lieu can also be arranged along with a directed sale of the property to produce funds to satisfy the lien.

My investor/backer though is more interested in finding two family houses at extremely low prices & needing minimal work.

The amount of Information that he provides, is extremely helpful.

Thanks Mike that was extremely helpful!

Renters are extremely good at spotting a weasel and they will in short order treat you and your property accordingly.