There tends to be a good amount of equity (50%+, e.g. a $15,000 note on a $30,000 house) so you still come out ahead after paying fees to foreclose and sell the property. 

i tend to stay away from anything foundation wise if the house needs to be jacked up and fixed I've found that the cost of this is too much on top of other issue the house has and will to two options from there knock down or walk away 

That said, I'd continue to buy large multifamily properties because they tend to be the best long-term investment in my opinion.

Then again, contracts are typically the results of past lessons learned, which is probably why they tend to get so much longer as time passes :-P

This correlation tends to hold true over cycles also.

i tend to be "old school" and use a map.  

tenants who often are "renting" from multiple owners (often preying on the elderly whose properties tend to be more neglected and violations left uncorrected) and consequently subleasing out the property they rent to others, without owning the property nor paying rent on it, generating multiple streams of property.one dude i found to be doing this, while showing a few apts and having him apply to rent a 2nd at one of the properties i manage, when he had just put a deposit already on a 1st, when confronted, even boasted it's his and his 'homies' method of 'investing in the new economy'!

The lenders tend to also work with the borrower because they have recourse with the property only if something goes wrong.

The community tends to take care of its own and be wary of outsiders with only a couple posts to their name asking for help/partners. 

I tend to think less in terms of an actual number, because it truly depends.