the bottom line is this -make offers that will increase your likelihood of making money on the deal. 70% below market + repair costs is just a guideline.asking price 100kAFTER REPAIR VALUE - 130k130k - 30%= 91k91k - 15,000 in repairs/holding/other costs = 76k offer price.that's a general guideline.

A successful landlord will only buy this property if he can make money.If you've got a RELIABLE buyer lined up, then I would say go for it.

If they do get out, it'll have saved me about 2 weeks.I already have a cash buyer lined up once I can get her out, so hopefully I'll get paid next week.

The payments, taxes and insurance will be around $500.00/month which is in line with rents in the area.

You can use a second mortgage (create 2 notes instead of one) to get the LTV in line if necessary and keep the second for long term cashflow after you sell off the first!

i'm not familiar with LA county but many counties are putting the foreclosure list on line.

So, I'm afraid to sign the contract with the seller until I'm confident that I have a buyer lined up.

I happened to stumple upon a home on-line on a realtor website.

Then we run into the problem, as is unique to the age we live in, of finding a legitimate lender on-line.

Here in MO, a guy asked if I'd take his wife, but that just crossed the line. :)