The important part is to be able to pull a Profit and Loss.

@Daniel Ramirez - Because a third party will not be as good or timely at getting materials as I am. 

This is a multi-faceted question...A seller can still sell his/her property during pre-foreclosure.

I am interested in multi family rental properties and some fix and flip properties.

So - in a frothy market (multi-family/duplex/triplex rental opportunities) regardless of area - should you pay up to get a deal (over asking) or find something less popular?

I've been cramming info into my head on REI using podcast, books and youtube videos. 

We do apartment buildings, but charging by collected rents is fair to both parties, and is an incentive to find good renters.

I have experience with commercial multi-family and there is no way you will learn a fraction of what you need to know to get into the business successfully.

They should take pictures and video inside and out plus the neighborhood periodically. 

Good Afternoon Investors,Need help analyzing this deal:I have a multipurpose use facility that is wanting to be turned into a multi-plea gym and volleyball with retaiil stores in the front.