If it's 30-90, you may very well be able to keep going as a corporate rental like Myka stated above.

The physical upgrades, the rent return, etc....Additionally, offer to make her a part of the renovation process.  

Especially if, after seeing the pallets, the tenant placed items directly on the floor.There may well be some way to mitigate the problem. 

Hi All,11/07 was the first time we were at auction physically, though we had bid on few properties in the past online .

@Kelly Farley, is your 10% vacancy just your physical vacancy rate?

So even as people are buying (highest levels of consumer confidence), we just don't need as many physical retail stores or restaurants anymore.

I don't want to end up getting a reputation for retrading after the face, but I'm sure that I will find at least a few surprises, when I go through the documents and the physical inspections.NumbersPurchase price $875,000Units 19 2 BedroomC Building, C Neighborhood, Low crime, Rural within driving distance to metropolitan jobsGross Rents (Rent Roll) - $10,600/monthLess 5% Vacancy  - $120,480/yearManagement @10% = $12,720Legal, Marketing, Administrative (My Estimate) - $1500Landscaping and Snow Plowing (Pro Forma) - $2,631Other Maintenance and Repairs (Estimate based on 10% total M&R) -  $11,481Utilities (Common areas only Pro forma) - $1,069Total Operating Expenses - $52,013Expense Ratio 41% of gross scheduledNOI - $68,827Operating Cap at Purchase Price - 7.87%CapEx Reserves (Not included in NOI) - $300/unit per yearDoes anything seem out of place, based on these numbers?  

Less competition compared to MLS or short deals because of strict terms of the foreclosures (being physically present, having the cash available, etc)Cons: You can lose ALL of money if you are unlucky and didn’t conduct some thorough due diligence.

,When you register your LLC, you have to put a physical address-- and your name,  so if you google the LLC,  the state registry will likely be the first thing to come up.. so don't think the LLC will make you hard to find.   

I should have said "close to Being one of the worst neighborhoods" vs simply "Close to"  What I wrote could imply it was not physically close to a bad area.