I have played around with the numbers and typically use average CAP rates as well as the 70% rule, but my first round of numbers is saying that I should not be paying more than $100-120K for the property.

The title company plays a huge role in the structure of the deal and how smooth the deal goes.

I will also throw in I am brand new and looking for whole sale properties and properties I can take subject to and rent out.

A common one for the brand new buy and hold landlord with their first rental unit is what I call hgtv syndrome or simply over-remodeling.

Hi Joey Noel,I currently live, work, play and invest in St.

Brand new to BP.

First of all, they are under contract with a buyer, that has to play out.Secondly, if you paid what is owed, it would still be a short sale, as there is probably 8% in commission, transfer fees, closing costs, etc. along with back taxes, etc.You may or may not be seeing the real total owed to the bank.

A. 10%B. 25%C. 33%D. 50%E. 75%I'll play, I only read this post.I'll say "A", in fact i'd think it's actually less than 10%, but we'll never know the absolute number anyway. :)  

I was selling brand new jeans, jewelley, gadgets etc. now that Im 36 I want to have a real action , a real career.

Hey everyone,Let me preface this by saying that I'm brand new to real estate investing.