My husband and I own a duplex just across the Maine border in Somersworth, NH.

I'm guessing as people have  already pointed out that since "most" banks require MLS activity on the short sales making money directly off them is not the main strategy.  

The main difference was the speed on approving the loan, and flexibility on the property condition.Good luck!

If you would like to get together there is a great investor Meetup on Thursday mornings at 7am at Valencia Luncheria on Main Ave in Norwalk.

Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.This is also a great place to meet people that can be assets to your business.

I worked with a company that has purchased 3000+ homes in Detroit (mainly) in the last three years and the market has been horrible for them.  

Tenants are extremely hard on appliances, it is not uncommon.Landlord Responsibilities: Landlord will at all times during the tenancy keep the premises fit for human habitation, and shall in particular:a.Cultivate, care for and mow surrounding grass, lawn, flowers, and shrubberyb.Maintain the premises to substantially comply with any applicable code, statue, ordinance, or regulation governing the premisec.Maintain the roof, floors, walls, foundations, and all other structural components in reasonable good repair as to be usable and capable of resisting normal loadsd.Keep any shared or common areas reasonable clean, sanitary, and safe from defects increasing the hazards of fire or accidente.Provide a reasonable program for the control of infestation by insects, rodents, and other pests at move in f.Except where the condition is attributable to normal wear and tear, make repairs and arrangements necessary to put and keep the premises in as good condition as at move ing.Provide reasonably adequate locks and provide keys to the tenanth.Maintain all electrical, plumbing (main lines), heating, and other facilities and appliances supplied by Landlord in reasonably good working orderi.Maintain the unit in reasonably weather tight conditionj.Provide facilities adequate to supply heat and water and hot water as reasonably required by the tenant

You can get something cheap properties in Upper Darby (in Delaware Co) or Norristown (in Montgomery Co) to multi-million dollar mansions on the main line (also mainly Montgo, Chester and Delaware).

The reasons why I am where I am today are probably the same as everyone elses who find themselves in a similar position but the main one is not being able to hold myself accountable.  

I did it mainly for the diversification- I have been looking for a retail opportunity for awhile.