I've personally met hedge fund managers that watch the Charlotte market as an indicator for other markets around the country, while not actually investing here.With all that said, it's extremely competitive.

Some people actually fall for it.The other question you need to answer...why is your tenant looking at rentals on Craigslist???

I personally do not like portfolio type deals because investors tend to over value the assets based on a cap rate, when the reality is that single families and small multis should be sold based on comps. 

Actually, I watched Brandon Turner's seminar on Evaluating Properties and Making Offers over the weekend, so I was able to see the mistakes I made. 

Hi Sherry,In Georgia, they actually sell a redeemable tax deed at the auction.

@Jose Castillo the actual dues owed are not negotiable.

It's a tax deduction but not something you actually have a cash outflow for.

And if you are taking a loan, then breaking even each year is actually a win for you because your principal balance is being paid by someone else.   

I actually think it would be funny if you walked into that bank with a printed copy of that form in-hand and asked "what gives?"

The deal was just okay, and now that I have the education of how to actually evaluate, buy, and rent a single family property, I want to do another deal that is much better than my first.