Owner also pays water, trash etc, and insurance and taxes are probably not low.In general I've found that MLS listed properties are not listed for below market prices, but further checking might prove this to be a good opportunity for you.BTW, from what I've seen in the Bay Area, some of that $150K gain you've seen in two years is probably "borrowed" appreciation from the next 3 years.

He would also be paying taxes and insurance for this period of course.

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I have started buying and selling vacant lots in a large development in my area, with great success in just the last two months/There are tons of sellers looking to dump their lots, and I have had good luck selling quickly, I work at a title company, and so examine title and include title insurance on all purchases, and have tried to do everything the right way.Today i was confronted by a broker in the area about my business, which she says is illegal.

Private Mortgage Insurance covers from the 80% up to the amount you put down.

This is the best methind for building a nice portfolio and the monthly cash flow will be yours (minus taxes and insurance).

Have a major insurance company look at the property before you offer and say they'll carry it or contact the sellers guy (they're getting so pickey) and make sure those taxes/insurance are calculated to the month (don't accept old records) to know exactly what costs are going to be.

I will add that you need to make sure you calculate vacancy loss, taxes, insurance, repairs, maintenance and seriously consider hiring a property manager.

The claimant is awarded damages in excess of what your insurance covers 5.