But most of the people who were being foreclosed on were home owners not investors.So to protect yourself, make sure that you can cover payments when vacancy goes up and make sure you are cash flowing enough to cover expenses still if the rental prices dip a little and save some of the cash flow for an emergency fund - maybe 5k per unit. 

after 2 months wasting time and had move out before i could refi with quicken loans they quoted me 60 LTV for my rehabbed 3 unit. seems low for 720 credit score and noi per month of $1300ARV is $195kput 35k into it fi...

Nevermind, finally found the information about this on here, already covered.

That should cover one months rent. 

My agent also said they are only willing to take off $500 for the damages which wont even cover the materials for the flooring.

@Ryan Moore,Ok, those reserve are not required to sit in your LLc account without earning anything.The whole reason we have reserve is to cover unexpected expense.

Originally posted by @Virs Esar:For sheriff foreclosures, try epreforeclosure dot com.I don't think @Dan Gabrielli covers Sheriff sales, just D-T (deed of trust) foreclosures through the special proceedings office.

However, it seems as though the $500 isn’t going to cover all those expenses.

Like pulling clothes out dressers and putting clothes all on bed, covering dishes, cleaning out cabinets completely.   

Landlords will need to raise rents at least $15-$20 per month per property to cover the $20 annual fee and $150 inspection fee.