Then yeah, it's a risk you take, but if you buy a BK note with no equity then you know what you're getting into and you got the appropriate discount.

there are some good discounted homes that are accepted here.

They will do their own valuation, come up with same comp.s as you, and will Not discount the price for cosmetics and updates.

I just go straight to foreclosure action.

That being said I have zero claims right now and also a no-claims discount from the insurance company and I don't want my premiums to rise.

Unless you miss a payment or really start off as a straight investment and lie to the bank about that I think you are not going to have an issue.

I was buying small balance commercial loans, so if you're looking at single family residential, realize there are likely some differences (especially when it comes to foreclosure, eviction and restructruing processes), but the investment thesis is the same: Buy the NPN at a discount, sell it to another investor for a "smaller" discount.

I am about half-way through the ebook and it's a great, straight to the point read.

It seems like a pretty straight forward turn around.

Owner paid utilities properties will always sell at a discount since you can't raise the rents far enough market rates to cover for tenants tendencies to waste the utility usage since they are not paying for it.