This doesn't even account for additional liens etc. that can be added on after the second is bought.Since the first is still on the property many liens can be attached.Contrary to popular belief the the 1st and the second are 2 different loans with different payments and numbers.The asset manager on one loan has the duty to limit losses for that one loan while the other AM handles the first.So the first and second positions have different goals in mind.Many seconds are worthless.Example had a customer call the other day.4 bed 3 bath bought in 2006 for 160,000.1st 130,000 second 30,000.Now properties are selling foreclosure for 89,000 REO.

Obviously, pets wouldn't be so popular if this were the case.

Woodcrest Hills and Raintree Silver Ridge are not very popular now..

Sellers are making concessions left and right, and rate buy downs are very popular right now, so don't get too stuck on waiting for them to drop below 5%, there are ways to get that rate right now with seller concessions.

Being an early adopter and finding one (or more) in popular, high demand or resort style areas with soft ball regs (or no regs) is often profitable.  

I personally do not know these markets but they are popular around here.

Buildium and Appfolio are two popular ones.

Metal roofs are popular here.

Thanks to television shows, it seems everyone is inspired to get into the flipping game.

Wife and I have thought about looking at properties on the western side of the Albermarle Sound as opposed to popular Nags Head/Duck etc.