I only have 20K cash and want to buy up to 2 rentals if the situation is right in the next year or so.

I wasn't sure where to post this as my situation is a little odd.

Yep, I'm a broker and I advocate not using one in this situation as you will typically pay double origination.Sure, portfolio lenders will accept a package from me but they will not give me wholesale rates and zero origination unless I have negotiated a master loan commitment with them.

What occurred in our situation is the building was fully rented and in the purchase agreement there was a clause that one of the tenants would be given a 30 day notice that they would have to move once we closed.

Does your lease address this situation?

Roy, There is a solution for your exact situation.

Okay here's the situation, I hired a property management company to find tenants and sign a one year lease with the management company.. the lease was up in July and from there they go on month to month (correct me if im wrong)... so I emailed the property management company on September 30 to say that I want to cancel my service they're providing and become the landlord for the tenants.. but I get an email back saying that the tenants are going to move out on Oct. 4?!?!

hello there everybody long time no see LOL.Okay this is exactly what's going on, I have a relly good friend of mine (in California) who got himself in a sticky situation.

The 'experts' are saying this is the worst or second worst situation we have ever faced as a country.

Its also going to depend on your financial situation and the property.You might be better off finding somebody local to LA who has closed short sales in your area.