It's easy to get excited walking into a freshly painted 4 bedroom house with new carpet when you have lived in an 2 bed apt for the last few yrs.

LOL.But to your comment, that can be said about basically anywhere in the country.I understand that due diligence is in order but on purely a cash flow perspective at those prices and market rents any property would be a good deal if the vacancies are manageable.

I do feel in general that I am not getting a complete picture of my perspective tenants, and resort to a paper application for all of the details, and to have the legal stipulation that I can call employers and landlords.

if they're fresh off the boat, they won't have no credit history, no references. if they decide to leave in the middle of the night whenever they want, leaving damage behind, you won't have any recourse.

Or (B) Delaying when you enter the listing in the MLS allowing you to call all of your perspective buyers and investor friends (Unethical under the Realtors Code of Ethics).

To keep things in perspective, the median price of resales has increased 110% since 2000 and 25% since 2004.Another major factor in Nevada is a new law that is scheduled to take effect October 1st (AB440) which will make it almost impossible for lenders to offer stated income loans.

I'm looking at my first perspective rehab with the REO's realtor.

Everything is perspective.

Go for it I would tell them, but mine doesn't have dog **** on the floor, mine is freshly painted, has a garage door opener, SOLAR SCREENS ON WINDOWS, HIGH EFFICIENCY A/C, EXTRA INSULATION IN THE ATTIC, so you will probably pay $50/month less for utilities in my place.Remember, THIS IS A BUSINESS.

Prices do look a bit high when you put it into perspective, don't they?