I recommend having a diverse portfolio!

From what I have heard is that there is a requirement to stay in the subject property for as little said 6 months but majority stay/are required to stay for a year and the same loan stays in place.  

It can also subject you to being considered in the same light as a mortgagee, which would carry with it a host of  legal requirements that you need to adhere to.  

After reading, watching many video and gaining a ton of point of views on investing, I came across this question....Can I legally enter into a "subject to" agreement with the owner while they have a property up for sale as a short sale or anytime during the foreclosure process?

Anyways just my 2 cents, I’m certainly not an expert by any means, would be interested to hear what others have to say…BTW there is a great article somewhere on BP by Ben L that talks about this subject (how cheap properties get killed by capex), it's a good read.

Understand investor world. fairly organized.Michael Florence @ Harlan and Florence: low price ($350). very flexible. amazing background in subject to.

I'm not sure where you are and if Chicago is close for you to benefit from it's diversity and population growth.  

Wilmington on the other hand has more of a diverse economy and does not rely solely on the military.

@Garrett CanterOK if you want to start a huge battle on Biggerpockets start a post on this subject, I have posted on this before, many people disagree with me but this is my real life story.So during the financial crash I'm just casually talking to a big time local personal injury attorney who goes to my church, I say well at least this down turn doesn't hurt you, he says actually it does businesses are hurting so bad they are dropping their insurance, and its almost never a feasible to take legal action if the they don't have insurance.  

@Anthony Perez 6 families are subject to rent stabilization (if it was built before 1974 which I assume it was) you can only raise rents based on what the city sets.