And usually you will be able to gain access to such list at no charge, you just have to call the city up and ask for the "code enforcement" department (as it's usually referenced regardless of city).

I haven't used them to date but I'm told they are valuable in getting properties...

What an incredibely valuable find, biggerpockets.

So my question is how will I gain that in this economy?

They don't pay the government of the gain, that's paid as it's received, most likely they can't invest the proceeds at a higher rate and the collateral they get is the best there is, after all they know the property.

(and hopefully I can contribute when I have gained some experience!)

Lowered to 115 in a month and went into escrow in June for 110.After paying the contractor his share (15% of profits), we came away with around 13K in profits.Although mistakes were made, we also learned valuable lessons.End Result: SUCCESS!!

Hello all, I've loved reading all of the valuable information here and have decided to post something of my own since every situation seems to be different.I'm currently a WA resident that bought a short sale 3 years ago with a decent amount of equity in it now.

Using depreciation, you would pay a lot less in taxes today, but would owe capital gains on the depreciated amount in the future if/when selling.

Keep $60 000 in a savings account to cover unexpected costs and expenses while you gain a little more experience about real estate investing.Secondly, try to purchase a fourplex in a "good" neighborhood for around $150 000.