I am just small town midwest,,but here alot of people have left town when whole industries were closed down or partial layoffs.A town of 20,000 people and we lost one major employer of 13-1500 jobs and the stupid city officials said"It was the best thing to ever happen here" .

You'll see them by going to this link:http://www.biggerpockets.com/renewsblog/author/shaebynes/I think your buy & hold strategy is a good one, but from experience I feel a responsibility to tell you that it absolutely critical to have reserves..a good 3 months or so of cash to deal with vacancies and other things that WILL come up.Have you networked with other investors in your area?

On this same topic, there are a couple of authors who wrote about this in their books.

Does this case from October 15, 2009 shed some light on the wishes of some governmental officials in what they want to be law?

Let's look over the BK for now just to simplify.You will need a purchase contract, letter of authorization, and proof of funds letter for starters.

Any book or author recommendations?

Here are my suggestions:Valerie Fitzgerald, author, Beverly Hills real estate brokerSam Zell, some real estate guy from ChicagoWilliam J.

However, without authorization or a POA from the borrower, it's near impossible to obtain to the payment terms from the lender.

However, if you do not have a website you might consider making up the name of your “Company†so that you can sound official.

I've been to meetings with inspectors, had homes inspected, toured entire neighborhoods that are affected and spoken to State authorities as well as insurance authorities.